JPMorgan Active High Yield ETF(CBOE:JPHY)

JPHY aims to outperform its benchmark by actively managing a portfolio of high yield fixed income securities. The fund may allocate fully to junk bonds but limits its investment in other securities, such as investment-grade rated bonds at 20%. It may hold bonds issued by both domestic and foreign issuers given that the securities are USD-denominated. The adviser actively manages the fund but considers several factors regarding issuer, risks, opportunities, credit, and ESG to overweight and underweight its allocation. The fund seeks a high level of income and aims to maintain a weighted average portfolio maturity between three and ten years. It may also utilize derivatives including futures contracts, options and swaps for hedging investments and managing risks.