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Emerging","page_number":3,"box":{"x":66,"y":549,"width":391,"height":9}},{"id":"3c654216-9656-4ddf-92da-ae323a5cdc31","block_type":"box","text":"market and below investment grade debt securities may also be","page_number":3,"box":{"x":66,"y":560,"width":381,"height":8}},{"id":"0020863a-5e3a-47be-b81b-017ea33ed5a8","block_type":"box","text":"subject to higher volatility and lower liquidity than non","page_number":3,"box":{"x":65,"y":570,"width":314,"height":9}},{"id":"925be334-88f1-4ee8-8d19-b06fc2c7e473","block_type":"box","text":"-","page_number":3,"box":{"x":381,"y":574,"width":4,"height":1}},{"id":"54728588-785c-4720-be5b-6e78f2ec0c28","block_type":"box","text":"emerging","page_number":3,"box":{"x":387,"y":570,"width":55,"height":9}},{"id":"764ce085-0d53-47b5-bd9d-852d9e4b5cf1","block_type":"box","text":"market and investment grade debt securities respectively.","page_number":3,"box":{"x":66,"y":581,"width":345,"height":9}},{"id":"498fe786-2a53-41ab-a31c-3425ce0364cd","block_type":"box","text":"Sustainability risk may materially negatively impact the financial","page_number":3,"box":{"x":66,"y":591,"width":376,"height":9}},{"id":"7a3e4a1b-d829-4e5d-8d3b-de0702d4fa41","block_type":"box","text":"condition or operating performance of an issuer and therefore the","page_number":3,"box":{"x":65,"y":602,"width":390,"height":9}},{"id":"27193d13-400d-43aa-ad2f-8185a2faf169","block_type":"box","text":"value of that investment. 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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":"4125e5cc-5b8b-41f1-8ec8-5b529d2d9f00","block_type":"box","text":"changed since the report date.","page_number":3,"box":{"x":506,"y":103,"width":186,"height":8}},{"id":"795e9f0f-417f-4b71-a1eb-67499badd967","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":"accf156a-9997-4446-acb6-e590a89dcab3","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":"9f0854cb-beea-4942-92e8-87dc3f9583e3","block_type":"box","text":"legal and regulatory obligations and internal policies. 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The risk","page_number":3,"box":{"x":506,"y":200,"width":422,"height":8}},{"id":"74b2885c-3c2e-473f-8fab-e5e895e93e7d","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":"cc4d8ebc-9dc0-441a-938a-cd551b77aa34","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":"e04cd506-e60b-4672-b11a-f078ccb6ade0","block_type":"box","text":"risk rating does not mean a risk","page_number":3,"box":{"x":506,"y":231,"width":192,"height":9}},{"id":"7832b527-d973-4abb-b53a-f5836b88a306","block_type":"box","text":"-","page_number":3,"box":{"x":699,"y":235,"width":3,"height":1}},{"id":"fc064a64-f94a-4749-aec6-7e5f7ba94063","block_type":"box","text":"free investment. See the Key","page_number":3,"box":{"x":704,"y":231,"width":173,"height":9}},{"id":"8da6b8ef-0e70-4501-a5a8-759b416099f3","block_type":"box","text":"Investor Information Document (KIID) for details.","page_number":3,"box":{"x":506,"y":242,"width":291,"height":9}},{"id":"427917ef-0324-4dc9-9fa2-629d8ee38858","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":"2d63dac4-0edd-4ed0-9910-e691118133cd","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":"303e93a5-9d69-481e-b07e-4ca5ff9e9c20","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":"ca766d68-3c94-4b8f-b1dc-ce422db107a7","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":"0a566c77-ced1-4b90-bacc-944619d295c8","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":"2c41d0b2-4d11-4f7e-95e5-ea318f36e87e","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":"facb7709-b8e7-45c4-8cc4-1f2e8c643f95","block_type":"box","text":"income (gross) reinvested including actual ongoing charges","page_number":3,"box":{"x":506,"y":341,"width":369,"height":9}},{"id":"1034cb86-de67-4068-83fb-2f49ef72ffd6","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":"68d24943-2245-4197-aa9f-949feca19bc6","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":"4663df91-ae94-473e-b62f-4baa59297b38","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":"a31ba50f-5688-4c8e-a786-720351f62d5a","block_type":"box","text":"NAV based returns.","page_number":3,"box":{"x":506,"y":383,"width":115,"height":7}},{"id":"115ffadf-d095-4e0e-89fd-5cec2d634b0e","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":"8f6c5f23-7b33-4648-889a-adb80c5435cf","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":"00f24a7a-ec84-4baf-82c5-f9e46e0ad51b","block_type":"box","text":"used in the past performance calculation.","page_number":3,"box":{"x":506,"y":417,"width":255,"height":9}},{"id":"39693b3f-6889-44c3-88c6-c3c9ab1aa9a2","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":"083c7638-9a59-43aa-b6c4-4ff54764bf34","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":"9b0a9ae3-ecb2-4800-b291-0d259ff31afa","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":"c606eb08-36e2-44ad-9bcd-64460b6b3f93","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":"6fdd1614-7446-4d03-8401-14e5acd5bae4","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":"be10995c-020b-49f2-8b0d-38e5d7baf1b1","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":"7763e00a-81fb-4e0f-908e-dc22ab58e584","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":"aa64adaf-0946-4879-aa58-485dd0bce2db","block_type":"box","text":"contribute to differences in performance outcomes.","page_number":3,"box":{"x":506,"y":504,"width":316,"height":8}},{"id":"0a2e8d56-5803-4e66-9daa-f90fda470c60","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":"8ca7a2e9-1156-4a61-8f41-872b0680ac0c","block_type":"box","text":"referenced in the Sub","page_number":3,"box":{"x":506,"y":527,"width":132,"height":7}},{"id":"51b1f7c1-aacc-4210-a154-0d728c370b48","block_type":"box","text":"-","page_number":3,"box":{"x":639,"y":531,"width":4,"height":1}},{"id":"b8bcbd41-da49-4a8b-9e42-8f4b0f77ca6c","block_type":"box","text":"Funds' Investment Objective and Policy.","page_number":3,"box":{"x":645,"y":527,"width":240,"height":9}},{"id":"3fa39667-04be-43e6-9a7b-43abdb5968f6","block_type":"box","text":"Fund information, including performance calculations and other","page_number":3,"box":{"x":506,"y":553,"width":395,"height":9}},{"id":"0bb659e7-3944-466d-b61f-bd93258515b9","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":"20949cd0-ca93-4657-8b28-68fe9de2c883","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":"b985c194-01de-425e-b334-942ce34c01c6","block_type":"box","text":"Co. and its affiliates worldwide).","page_number":3,"box":{"x":506,"y":585,"width":186,"height":9}},{"id":"a04843ac-965a-491a-9b19-14aba5d5b181","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":"d431c855-b020-418f-8e4a-4236aac46659","block_type":"box","text":"©","page_number":3,"box":{"x":506,"y":606,"width":9,"height":7}},{"id":"f46c0cb7-7b2d-4c23-bdd3-6561618580c2","block_type":"box","text":"2026 Morningstar. All Rights Reserved. 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