J.P. Morgan Exchange-Traded Fund Trust JPMorgan Sustainable Municipal Income ETF(AMEX:JMSI)

JMSI seeks to provide current income exempt from federal income tax by investing in sustainable municipal bonds with at least 90 days to maturity, including municipal mortgage-backed and asset-backed securities, as well as restricted securities. The fund may invest without limit in municipal mortgage-backed securities at the advisers discretion. The fund caps its investments in below investment grade securities to 20%. As an actively managed fund, the fund adviser analyzes individual securities and market sectors to make buy and sell decisions at their discretion. The adviser uses a long-term, value-oriented approach and a proprietary ESG framework. The fund intends to invest at least 80% of its assets in sustainable securities, whose proceeds provide social and environmental benefits, in the advisers opinion. On July 17, 2023, JMSI converted from a mutual fund to an actively managed ETF with $238 million in assets.