JP Morgan expands ‘BetaBuilders’ suite with international equity ETF

Dec 6th, 2019 | By | Category: Equities

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JP Morgan Asset Management has added to its ‘BetaBuilders’ suite of low-cost, passively managed ETFs with the launch of the JPMorgan BetaBuilders International Equity ETF (BBIN US).

Joanna Gallegos JP Morgan

Joanna Gallegos, US Head of ETFs at JP Morgan Asset Management.

The fund, which has listed on Cboe BZX Exchange, provides investors with liquid, cost-effective access to developed market equities globally, excluding the US and Canada.

It comes with an expense ratio of 0.07% and has been seeded with $20 million.

Joanna Gallegos, US Head of ETFs at JP Morgan Asset Management, said, “BBIN has been designed to provide investors with efficient access to the almost $50 trillion global equities market, a core allocation for any diversified portfolio.

“BBIN gives investors broad, diversified access to the developed international equity market, at a fraction of the price of purchasing across individual markets.”

The fund is linked to the Morningstar Developed Markets ex-North America Target Market Exposure Index which selects stocks from a universe of equities listed in developed markets outside of North America.

The index provides exposure to the top 85% of equity market capitalization, capturing large- and mid-cap representation across stock markets covered by the index. To be eligible for inclusion, securities must fall in the top 75% by trading volume and turnover to ensure investability and ease of tracking. Securities are weighted by float-adjusted market capitalization.

The index’s exposure is broadly similar to that of the widely followed MSCI EAFE Index, underlying reference index to the popular $61 billion iShares MSCI EAFE ETF (EFA US). Similar to the Morningstar index, the MSCI EAFE covers approximately 85% of the free float-adjusted equity market capitalization of developed market countries around the world, excluding the US and Canada.

The fund expands JPMorgan’s BetaBuilders suite to eight. The existing ETFs provide exposure to US, European, Japanese, developed Asia ex-Japan, and Canadian equity markets as well as US-listed REITs and USD-denominated bonds.

“The launch of BBIN demonstrates JPMorgan’s ability to leverage our scale and technology to efficiently access markets and pass these benefits onto investors,” added Gallegos. “Our BetaBuilders platform has a track record delivering precise, reliable performance across US and international equity markets, and BBIN is building on this legacy by giving investors a straightforward and cost-effective way to add equity exposure to their portfolio.”

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