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Fund holdings and performance are likely to have","page_number":3,"box":{"x":506,"y":92,"width":412,"height":9}},{"id":"f3aaa072-eb45-464e-af30-e931056de3ab","block_type":"box","text":"changed since the report date.","page_number":3,"box":{"x":506,"y":103,"width":186,"height":8}},{"id":"4c2c1be3-e270-4f23-8949-be1bef0f76b2","block_type":"box","text":"To the extent permitted by applicable law, we may record telephone","page_number":3,"box":{"x":505,"y":113,"width":401,"height":9}},{"id":"406a7980-f288-47d7-b717-0185b6ec2c66","block_type":"box","text":"calls and monitor electronic communications to comply with our","page_number":3,"box":{"x":506,"y":124,"width":392,"height":8}},{"id":"208c7b23-72dd-4e76-ba0a-679ebd4b906b","block_type":"box","text":"legal and regulatory obligations and internal policies. Personal data","page_number":3,"box":{"x":506,"y":134,"width":405,"height":9}},{"id":"48364de1-bd9b-41f4-a4e7-4b12cb474cd0","block_type":"box","text":"will be collected, stored and processed by J.P. 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The risk","page_number":3,"box":{"x":506,"y":200,"width":422,"height":8}},{"id":"ffb29501-97c2-49b3-a162-22a2aa81bde4","block_type":"box","text":"and reward category shown above is not guaranteed to remain","page_number":3,"box":{"x":506,"y":210,"width":378,"height":9}},{"id":"a4724163-acc3-417d-ace9-e0cb46717154","block_type":"box","text":"unchanged and may change over time. A Share Class with the lowest","page_number":3,"box":{"x":506,"y":221,"width":420,"height":9}},{"id":"45c9786e-976a-48aa-9bf1-78beac65db92","block_type":"box","text":"risk rating does not mean a risk","page_number":3,"box":{"x":506,"y":231,"width":192,"height":9}},{"id":"545eaa2b-d5ab-4cc9-bda9-a8debadc6813","block_type":"box","text":"-","page_number":3,"box":{"x":699,"y":235,"width":3,"height":1}},{"id":"4e5132fc-996a-4d67-b9bb-db8d5478e3e3","block_type":"box","text":"free investment. See the Key","page_number":3,"box":{"x":704,"y":231,"width":173,"height":9}},{"id":"641f05d5-6c4b-4466-9bb2-b17f37691a6a","block_type":"box","text":"Investor Information Document (KIID) for details.","page_number":3,"box":{"x":506,"y":242,"width":291,"height":9}},{"id":"76df65b3-5666-4d07-be35-f048824ee135","block_type":"box","text":"The possible difference between the current ongoing charge as","page_number":3,"box":{"x":505,"y":255,"width":388,"height":8}},{"id":"e615bde7-594c-4b40-9627-01b8ff47c1b1","block_type":"box","text":"stated in this document and those mentioned in the KIID, is caused","page_number":3,"box":{"x":506,"y":265,"width":412,"height":8}},{"id":"e8e08b4a-7fb6-4f57-a26d-1e12ed1a2dc9","block_type":"box","text":"by the fact that the costs mentioned in the KIID are an estimate","page_number":3,"box":{"x":506,"y":276,"width":385,"height":8}},{"id":"c05428ad-335d-459d-938a-f21ef3ee1e4f","block_type":"box","text":"based on the actual costs incurred over the past year.","page_number":3,"box":{"x":506,"y":286,"width":327,"height":9}},{"id":"fd584dfc-0df4-49f5-94ba-814ca22a156f","block_type":"box","text":"Source: J.P. Morgan Asset Management. Share class performance is","page_number":3,"box":{"x":506,"y":320,"width":412,"height":9}},{"id":"28a9e791-7ad9-491c-9c29-d8c893a67b76","block_type":"box","text":"shown based on the NAV (net asset value) of the share class with","page_number":3,"box":{"x":506,"y":331,"width":398,"height":8}},{"id":"cceb982a-2357-47f4-9d4d-86f25cfcc6ff","block_type":"box","text":"income (gross) reinvested including actual ongoing charges","page_number":3,"box":{"x":506,"y":341,"width":369,"height":9}},{"id":"fcf20855-95e5-47c6-a8b8-18f72edc220b","block_type":"box","text":"excluding any entry and exit fees. Performance is shown based on","page_number":3,"box":{"x":506,"y":352,"width":401,"height":9}},{"id":"877208a9-03d5-40a5-a57d-3fb13e60929d","block_type":"box","text":"the NAV which may not be the same as the market price of the ETF.","page_number":3,"box":{"x":505,"y":362,"width":405,"height":9}},{"id":"0882725b-9ac4-42db-9bf4-4e9cadaad55f","block_type":"box","text":"Individual shareholders may realise returns that are different to the","page_number":3,"box":{"x":506,"y":373,"width":408,"height":9}},{"id":"6f7879c6-5d4c-4dbf-9fd4-37bc15079516","block_type":"box","text":"NAV based returns.","page_number":3,"box":{"x":506,"y":383,"width":115,"height":7}},{"id":"23dd5738-98e6-4c01-9f79-49b4e900c543","block_type":"box","text":"The return of your investment may change as a result of currency","page_number":3,"box":{"x":505,"y":396,"width":402,"height":9}},{"id":"2a2f3c94-efb5-49c1-82c5-74a38f3bf9a7","block_type":"box","text":"fluctuations if your investment is made in a currency other than that","page_number":3,"box":{"x":505,"y":407,"width":421,"height":8}},{"id":"aebc7412-b618-40b7-be2b-c7a478913f8f","block_type":"box","text":"used in the past performance calculation.","page_number":3,"box":{"x":506,"y":417,"width":255,"height":9}},{"id":"e704d8c7-52d1-4ba5-b866-2732599fb56c","block_type":"box","text":"Indices do not include fees or operating expenses and you cannot","page_number":3,"box":{"x":506,"y":430,"width":403,"height":9}},{"id":"b03ef992-ee22-442b-a6ec-5c7e769ca22a","block_type":"box","text":"invest in them.Investors should note that the benchmark data","page_number":3,"box":{"x":506,"y":440,"width":381,"height":7}},{"id":"c9c220c1-e22a-4942-920d-92db67567ead","block_type":"box","text":"presented is expressed in the fund's base currency, which may be","page_number":3,"box":{"x":506,"y":451,"width":403,"height":9}},{"id":"2d8e0cff-388e-4691-9046-811635165a0b","block_type":"box","text":"different from the currency in which the share class performance","page_number":3,"box":{"x":506,"y":462,"width":400,"height":8}},{"id":"829b6d38-7933-4637-8fed-cedc54361c3c","block_type":"box","text":"data is presented. Investors should exercise caution when","page_number":3,"box":{"x":506,"y":472,"width":355,"height":9}},{"id":"2ff9d6c1-f3c2-4ec9-af2a-0e8ad40ec132","block_type":"box","text":"comparing the benchmark data with share class performance data","page_number":3,"box":{"x":506,"y":483,"width":408,"height":8}},{"id":"87f36b19-0b84-40c6-b260-de0e72486a4a","block_type":"box","text":"that are in different currencies, as currency fluctuations can","page_number":3,"box":{"x":505,"y":493,"width":373,"height":9}},{"id":"9ad5bfea-d587-4498-99b3-9470465c7943","block_type":"box","text":"contribute to differences in performance outcomes.","page_number":3,"box":{"x":506,"y":504,"width":316,"height":8}},{"id":"d889fc2d-93cc-4ade-8eb5-78615e29cfe4","block_type":"box","text":"The benchmark is for comparative purposes only unless specifically","page_number":3,"box":{"x":505,"y":516,"width":414,"height":9}},{"id":"11ee8e03-bf43-4197-b65e-bebd62644fbf","block_type":"box","text":"referenced in the Sub","page_number":3,"box":{"x":506,"y":527,"width":132,"height":7}},{"id":"d09765b8-806f-4395-8c97-524bf7ecff58","block_type":"box","text":"-","page_number":3,"box":{"x":639,"y":531,"width":4,"height":1}},{"id":"4530c645-af4f-4b4b-b9b4-3c6e9b698424","block_type":"box","text":"Funds' Investment Objective and Policy.","page_number":3,"box":{"x":645,"y":527,"width":240,"height":9}},{"id":"49c1149d-5efa-4a67-91e4-4b1b0ca862ab","block_type":"box","text":"Fund information, including performance calculations and other","page_number":3,"box":{"x":506,"y":553,"width":395,"height":9}},{"id":"7be94197-edba-4147-af9e-dfe29473a42d","block_type":"box","text":"data, is provided by J.P. Morgan Asset Management (the marketing","page_number":3,"box":{"x":506,"y":564,"width":400,"height":9}},{"id":"69e75df5-b6d1-4dbf-bdde-4d5d937a4f11","block_type":"box","text":"name for the asset management businesses of JPMorgan Chase &","page_number":3,"box":{"x":506,"y":574,"width":411,"height":9}},{"id":"b8e8a673-c2ca-4535-aac2-acc70523b22b","block_type":"box","text":"Co. and its affiliates worldwide).","page_number":3,"box":{"x":506,"y":585,"width":186,"height":9}},{"id":"485f3870-f466-40a2-bbb3-cbcdda8d9353","block_type":"box","text":"All data is as at the document date unless indicated otherwise.","page_number":3,"box":{"x":505,"y":596,"width":395,"height":6}},{"id":"52572e50-b676-4fa0-a4f4-e285d21419fe","block_type":"box","text":"©","page_number":3,"box":{"x":506,"y":606,"width":9,"height":7}},{"id":"277ce375-0386-4582-8553-fe6f679b78f3","block_type":"box","text":"2026 Morningstar. All Rights Reserved. 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