<?xml version="1.0" encoding="UTF-8"?>
<edgarSubmission xmlns="http://www.sec.gov/edgar/ncen" xmlns:com="http://www.sec.gov/edgar/common">
  <schemaVersion>X0404</schemaVersion>
  <headerData>
    <submissionType>N-CEN</submissionType>
    <filerInfo>
      <liveTestFlag>LIVE</liveTestFlag>
      <filer>
        <issuerCredentials>
          <cik>0001485894</cik>
          <ccc>XXXXXXXX</ccc>
        </issuerCredentials>
        <fileNumber>811-22903</fileNumber>
      </filer>
      <flags>
        <returnCopyFlag>true</returnCopyFlag>
        <overrideInternetFlag>false</overrideInternetFlag>
        <confirmingCopyFlag>false</confirmingCopyFlag>
      </flags>
      <investmentCompanyType>N-1A</investmentCompanyType>
    </filerInfo>
    <seriesClass>
      <reportSeriesClass>
        <rptSeriesClassInfo>
          <seriesId>S000063269</seriesId>
          <includeAllClassesFlag>true</includeAllClassesFlag>
        </rptSeriesClassInfo>
        <rptSeriesClassInfo>
          <seriesId>S000063667</seriesId>
          <includeAllClassesFlag>true</includeAllClassesFlag>
        </rptSeriesClassInfo>
        <rptSeriesClassInfo>
          <seriesId>S000054802</seriesId>
          <includeAllClassesFlag>true</includeAllClassesFlag>
        </rptSeriesClassInfo>
        <rptSeriesClassInfo>
          <seriesId>S000054790</seriesId>
          <includeAllClassesFlag>true</includeAllClassesFlag>
        </rptSeriesClassInfo>
        <rptSeriesClassInfo>
          <seriesId>S000063268</seriesId>
          <includeAllClassesFlag>true</includeAllClassesFlag>
        </rptSeriesClassInfo>
        <rptSeriesClassInfo>
          <seriesId>S000063668</seriesId>
          <includeAllClassesFlag>true</includeAllClassesFlag>
        </rptSeriesClassInfo>
        <rptSeriesClassInfo>
          <seriesId>S000060180</seriesId>
          <includeAllClassesFlag>true</includeAllClassesFlag>
        </rptSeriesClassInfo>
        <rptSeriesClassInfo>
          <seriesId>S000063265</seriesId>
          <includeAllClassesFlag>true</includeAllClassesFlag>
        </rptSeriesClassInfo>
        <rptSeriesClassInfo>
          <seriesId>S000061996</seriesId>
          <includeAllClassesFlag>true</includeAllClassesFlag>
        </rptSeriesClassInfo>
        <rptSeriesClassInfo>
          <seriesId>S000072932</seriesId>
          <includeAllClassesFlag>true</includeAllClassesFlag>
        </rptSeriesClassInfo>
        <rptSeriesClassInfo>
          <seriesId>S000071090</seriesId>
          <includeAllClassesFlag>true</includeAllClassesFlag>
        </rptSeriesClassInfo>
        <rptSeriesClassInfo>
          <seriesId>S000054488</seriesId>
          <includeAllClassesFlag>true</includeAllClassesFlag>
        </rptSeriesClassInfo>
        <rptSeriesClassInfo>
          <seriesId>S000064871</seriesId>
          <includeAllClassesFlag>true</includeAllClassesFlag>
        </rptSeriesClassInfo>
      </reportSeriesClass>
    </seriesClass>
  </headerData>
  <formData>
    <generalInfo reportEndingPeriod="2022-02-28" isReportPeriodLt12="N"/>
    <registrantInfo>
      <registrantFullName>J.P. Morgan Exchange-Traded Fund Trust</registrantFullName>
      <investmentCompFileNo>811-22903</investmentCompFileNo>
      <registrantCik>0001485894</registrantCik>
      <registrantLei>5493001E1K1DVWDV2464</registrantLei>
      <registrantstreet1>277 Park Avenue</registrantstreet1>
      <registrantcity>New York</registrantcity>
      <registrantzipCode>10172</registrantzipCode>
      <registrantstate>US-NY</registrantstate>
      <registrantcountry>US</registrantcountry>
      <registrantphoneNumber>844-457-6383</registrantphoneNumber>
      <websites>
        <website webpage="www.jpmorganfunds.com"/>
      </websites>
      <locationBooksRecords>
        <locationBooksRecord>
          <officeName>JPMorgan Distribution Services, Inc.</officeName>
          <officeAddress1>1111 Polaris Parkway</officeAddress1>
          <officeCity>Columbus</officeCity>
          <officeStateCountry officeCountry="US" officeState="US-OH"/>
          <officeRecordsZipCode>43240</officeRecordsZipCode>
          <officePhone>201-595-1958</officePhone>
          <booksRecordsDesc>records relating to its function as distributor</booksRecordsDesc>
        </locationBooksRecord>
        <locationBooksRecord>
          <officeName>J.P. Morgan Investment Management Inc.</officeName>
          <officeAddress1>383 Madison Avenue</officeAddress1>
          <officeCity>New York</officeCity>
          <officeStateCountry officeCountry="US" officeState="US-NY"/>
          <officeRecordsZipCode>10179</officeRecordsZipCode>
          <officePhone>800-343-1113</officePhone>
          <booksRecordsDesc>records relating to its function as investment adviser and administrator</booksRecordsDesc>
        </locationBooksRecord>
        <locationBooksRecord>
          <officeName>JPMorgan Chase Bank, N.A.</officeName>
          <officeAddress1>383 Madison Avenue</officeAddress1>
          <officeCity>New York</officeCity>
          <officeStateCountry officeCountry="US" officeState="US-NY"/>
          <officeRecordsZipCode>10179</officeRecordsZipCode>
          <officePhone>212-270-6000</officePhone>
          <booksRecordsDesc>records relating to its functions as fund accounting agent, sub-administrator and transfer agent</booksRecordsDesc>
        </locationBooksRecord>
        <locationBooksRecord>
          <officeName>JPMorgan Chase Bank, N.A.</officeName>
          <officeAddress1>4 Chase Metrotech Center</officeAddress1>
          <officeCity>Brooklyn</officeCity>
          <officeStateCountry officeCountry="US" officeState="US-NY"/>
          <officeRecordsZipCode>11245</officeRecordsZipCode>
          <officePhone>718-242-0609</officePhone>
          <booksRecordsDesc>records relating to its function as custodian</booksRecordsDesc>
        </locationBooksRecord>
      </locationBooksRecords>
      <isRegistrantFirstFiling>N</isRegistrantFirstFiling>
      <isRegistrantLastFiling>N</isRegistrantLastFiling>
      <registrantFamilyInvComp isRegistrantFamilyInvComp="Y" familyInvCompFullName="JPMorgan Funds"/>
      <registrantClassificationType>N-1A</registrantClassificationType>
      <totalSeries>47</totalSeries>
      <isSecuritiesActRegistration>Y</isSecuritiesActRegistration>
      <directors>
        <director>
          <directorName>Emily A. Youssouf</directorName>
          <crdNumber>N/A</crdNumber>
          <isDirectorInterestedPerson>N</isDirectorInterestedPerson>
          <fileNumbers>
            <fileNumberInfo fileNumber="811-04236"/>
            <fileNumberInfo fileNumber="811-21295"/>
            <fileNumberInfo fileNumber="811-08437"/>
            <fileNumberInfo fileNumber="811-05526"/>
            <fileNumberInfo fileNumber="811-07874"/>
            <fileNumberInfo fileNumber="811-21638"/>
            <fileNumberInfo fileNumber="811-08189"/>
            <fileNumberInfo fileNumber="811-23117"/>
          </fileNumbers>
        </director>
        <director>
          <directorName>Thomas P. Lemke</directorName>
          <crdNumber>N/A</crdNumber>
          <isDirectorInterestedPerson>N</isDirectorInterestedPerson>
          <fileNumbers>
            <fileNumberInfo fileNumber="811-23117"/>
            <fileNumberInfo fileNumber="811-04236"/>
            <fileNumberInfo fileNumber="811-21638"/>
            <fileNumberInfo fileNumber="811-21295"/>
            <fileNumberInfo fileNumber="811-05526"/>
            <fileNumberInfo fileNumber="811-07874"/>
            <fileNumberInfo fileNumber="811-08189"/>
            <fileNumberInfo fileNumber="811-08437"/>
          </fileNumbers>
        </director>
        <director>
          <directorName>Marilyn McCoy</directorName>
          <crdNumber>N/A</crdNumber>
          <isDirectorInterestedPerson>N</isDirectorInterestedPerson>
          <fileNumbers>
            <fileNumberInfo fileNumber="811-08189"/>
            <fileNumberInfo fileNumber="811-08437"/>
            <fileNumberInfo fileNumber="811-07874"/>
            <fileNumberInfo fileNumber="811-04236"/>
            <fileNumberInfo fileNumber="811-21295"/>
            <fileNumberInfo fileNumber="811-21638"/>
            <fileNumberInfo fileNumber="811-05526"/>
            <fileNumberInfo fileNumber="811-23117"/>
          </fileNumbers>
        </director>
        <director>
          <directorName>Frankie D. Hughes</directorName>
          <crdNumber>N/A</crdNumber>
          <isDirectorInterestedPerson>N</isDirectorInterestedPerson>
          <fileNumbers>
            <fileNumberInfo fileNumber="811-21295"/>
            <fileNumberInfo fileNumber="811-07874"/>
            <fileNumberInfo fileNumber="811-21638"/>
            <fileNumberInfo fileNumber="811-05526"/>
            <fileNumberInfo fileNumber="811-23117"/>
            <fileNumberInfo fileNumber="811-08437"/>
            <fileNumberInfo fileNumber="811-04236"/>
            <fileNumberInfo fileNumber="811-08189"/>
          </fileNumbers>
        </director>
        <director>
          <directorName>Raymond Kanner</directorName>
          <crdNumber>N/A</crdNumber>
          <isDirectorInterestedPerson>N</isDirectorInterestedPerson>
          <fileNumbers>
            <fileNumberInfo fileNumber="811-07874"/>
            <fileNumberInfo fileNumber="811-04236"/>
            <fileNumberInfo fileNumber="811-21295"/>
            <fileNumberInfo fileNumber="811-08437"/>
            <fileNumberInfo fileNumber="811-05526"/>
            <fileNumberInfo fileNumber="811-21638"/>
            <fileNumberInfo fileNumber="811-08189"/>
            <fileNumberInfo fileNumber="811-23117"/>
          </fileNumbers>
        </director>
        <director>
          <directorName>Robert E. Deutsch</directorName>
          <crdNumber>N/A</crdNumber>
          <isDirectorInterestedPerson>Y</isDirectorInterestedPerson>
          <fileNumbers>
            <fileNumberInfo fileNumber="811-08437"/>
            <fileNumberInfo fileNumber="811-21638"/>
            <fileNumberInfo fileNumber="811-23117"/>
            <fileNumberInfo fileNumber="811-05526"/>
            <fileNumberInfo fileNumber="811-07874"/>
            <fileNumberInfo fileNumber="811-04236"/>
            <fileNumberInfo fileNumber="811-21295"/>
            <fileNumberInfo fileNumber="811-08189"/>
          </fileNumbers>
        </director>
        <director>
          <directorName>John F. Finn</directorName>
          <crdNumber>N/A</crdNumber>
          <isDirectorInterestedPerson>N</isDirectorInterestedPerson>
          <fileNumbers>
            <fileNumberInfo fileNumber="811-07874"/>
            <fileNumberInfo fileNumber="811-21295"/>
            <fileNumberInfo fileNumber="811-05526"/>
            <fileNumberInfo fileNumber="811-08189"/>
            <fileNumberInfo fileNumber="811-23117"/>
            <fileNumberInfo fileNumber="811-08437"/>
            <fileNumberInfo fileNumber="811-21638"/>
            <fileNumberInfo fileNumber="811-04236"/>
          </fileNumbers>
        </director>
        <director>
          <directorName>Mary E. Martinez</directorName>
          <crdNumber>N/A</crdNumber>
          <isDirectorInterestedPerson>N</isDirectorInterestedPerson>
          <fileNumbers>
            <fileNumberInfo fileNumber="811-05526"/>
            <fileNumberInfo fileNumber="811-04236"/>
            <fileNumberInfo fileNumber="811-21638"/>
            <fileNumberInfo fileNumber="811-08437"/>
            <fileNumberInfo fileNumber="811-21295"/>
            <fileNumberInfo fileNumber="811-07874"/>
            <fileNumberInfo fileNumber="811-23117"/>
            <fileNumberInfo fileNumber="811-08189"/>
          </fileNumbers>
        </director>
        <director>
          <directorName>Stephen P. Fisher</directorName>
          <crdNumber>N/A</crdNumber>
          <isDirectorInterestedPerson>N</isDirectorInterestedPerson>
          <fileNumbers>
            <fileNumberInfo fileNumber="811-08437"/>
            <fileNumberInfo fileNumber="811-07874"/>
            <fileNumberInfo fileNumber="811-21638"/>
            <fileNumberInfo fileNumber="811-21295"/>
            <fileNumberInfo fileNumber="811-04236"/>
            <fileNumberInfo fileNumber="811-23117"/>
            <fileNumberInfo fileNumber="811-05526"/>
            <fileNumberInfo fileNumber="811-08189"/>
          </fileNumbers>
        </director>
        <director>
          <directorName>Marian U. Pardo</directorName>
          <crdNumber>N/A</crdNumber>
          <isDirectorInterestedPerson>N</isDirectorInterestedPerson>
          <fileNumbers>
            <fileNumberInfo fileNumber="811-21638"/>
            <fileNumberInfo fileNumber="811-08189"/>
            <fileNumberInfo fileNumber="811-23117"/>
            <fileNumberInfo fileNumber="811-08437"/>
            <fileNumberInfo fileNumber="811-04236"/>
            <fileNumberInfo fileNumber="811-05526"/>
            <fileNumberInfo fileNumber="811-21295"/>
            <fileNumberInfo fileNumber="811-07874"/>
          </fileNumbers>
        </director>
        <director>
          <directorName>Gary L. French</directorName>
          <crdNumber>N/A</crdNumber>
          <isDirectorInterestedPerson>N</isDirectorInterestedPerson>
          <fileNumbers>
            <fileNumberInfo fileNumber="811-08437"/>
            <fileNumberInfo fileNumber="811-21295"/>
            <fileNumberInfo fileNumber="811-04236"/>
            <fileNumberInfo fileNumber="811-08189"/>
            <fileNumberInfo fileNumber="811-07874"/>
            <fileNumberInfo fileNumber="811-23117"/>
            <fileNumberInfo fileNumber="811-21638"/>
            <fileNumberInfo fileNumber="811-05526"/>
          </fileNumbers>
        </director>
        <director>
          <directorName>Robert J. Grassi</directorName>
          <crdNumber>N/A</crdNumber>
          <isDirectorInterestedPerson>N</isDirectorInterestedPerson>
          <fileNumbers>
            <fileNumberInfo fileNumber="811-21295"/>
            <fileNumberInfo fileNumber="811-23117"/>
            <fileNumberInfo fileNumber="811-05526"/>
            <fileNumberInfo fileNumber="811-08437"/>
            <fileNumberInfo fileNumber="811-21638"/>
            <fileNumberInfo fileNumber="811-08189"/>
            <fileNumberInfo fileNumber="811-07874"/>
            <fileNumberInfo fileNumber="811-04236"/>
          </fileNumbers>
        </director>
        <director>
          <directorName>Dr. Robert A. Oden, Jr.</directorName>
          <crdNumber>N/A</crdNumber>
          <isDirectorInterestedPerson>N</isDirectorInterestedPerson>
          <fileNumbers>
            <fileNumberInfo fileNumber="811-21638"/>
            <fileNumberInfo fileNumber="811-08189"/>
            <fileNumberInfo fileNumber="811-08437"/>
            <fileNumberInfo fileNumber="811-07874"/>
            <fileNumberInfo fileNumber="811-04236"/>
            <fileNumberInfo fileNumber="811-21295"/>
            <fileNumberInfo fileNumber="811-05526"/>
            <fileNumberInfo fileNumber="811-23117"/>
          </fileNumbers>
        </director>
        <director>
          <directorName>Lawrence R. Maffia</directorName>
          <crdNumber>N/A</crdNumber>
          <isDirectorInterestedPerson>N</isDirectorInterestedPerson>
          <fileNumbers>
            <fileNumberInfo fileNumber="811-08437"/>
            <fileNumberInfo fileNumber="811-23117"/>
            <fileNumberInfo fileNumber="811-21638"/>
            <fileNumberInfo fileNumber="811-07874"/>
            <fileNumberInfo fileNumber="811-04236"/>
            <fileNumberInfo fileNumber="811-21295"/>
            <fileNumberInfo fileNumber="811-08189"/>
            <fileNumberInfo fileNumber="811-05526"/>
          </fileNumbers>
        </director>
        <director>
          <directorName>Nina O. Shenker</directorName>
          <crdNumber>N/A</crdNumber>
          <isDirectorInterestedPerson>Y</isDirectorInterestedPerson>
          <fileNumbers>
            <fileNumberInfo fileNumber="811-21638"/>
            <fileNumberInfo fileNumber="811-08437"/>
            <fileNumberInfo fileNumber="811-21295"/>
            <fileNumberInfo fileNumber="811-08189"/>
            <fileNumberInfo fileNumber="811-07874"/>
            <fileNumberInfo fileNumber="811-05526"/>
            <fileNumberInfo fileNumber="811-23117"/>
            <fileNumberInfo fileNumber="811-04236"/>
          </fileNumbers>
        </director>
        <director>
          <directorName>Kathleen M. Gallagher</directorName>
          <crdNumber>N/A</crdNumber>
          <isDirectorInterestedPerson>N</isDirectorInterestedPerson>
          <fileNumbers>
            <fileNumberInfo fileNumber="811-07874"/>
            <fileNumberInfo fileNumber="811-23117"/>
            <fileNumberInfo fileNumber="811-08189"/>
            <fileNumberInfo fileNumber="811-21295"/>
            <fileNumberInfo fileNumber="811-21638"/>
            <fileNumberInfo fileNumber="811-05526"/>
            <fileNumberInfo fileNumber="811-08437"/>
            <fileNumberInfo fileNumber="811-04236"/>
          </fileNumbers>
        </director>
      </directors>
      <chiefComplianceOfficers>
        <chiefComplianceOfficer>
          <ccoName>Stephen M. Ungerman</ccoName>
          <crdNumber>002315698</crdNumber>
          <ccoStreet1>277 Park Avenue</ccoStreet1>
          <ccoCity>New York</ccoCity>
          <ccoStateCountry ccoCountry="US" ccoState="US-NY"/>
          <ccoZipCode>10172</ccoZipCode>
          <ccoPhone>XXXXXX</ccoPhone>
          <isCcoChangedSinceLastFiling>N</isCcoChangedSinceLastFiling>
          <ccoEmployers>
            <ccoEmployer ccoEmployerName="N/A" ccoEmployerId="N/A"/>
          </ccoEmployers>
        </chiefComplianceOfficer>
      </chiefComplianceOfficers>
      <securityMatterSeriesInfo isRegistrantSubmittedMatter="Y"/>
      <isPreviousLegalProceeding>N</isPreviousLegalProceeding>
      <isPreviousProceedingTerminated>N</isPreviousProceedingTerminated>
      <isClaimFiled>N</isClaimFiled>
      <coveredByInsurancePolicy isCoveredByInsurancePolicy="Y" isClaimFiledDuringPeriod="N"/>
      <isFinancialSupportDuringPeriod>N</isFinancialSupportDuringPeriod>
      <releaseNumbers isExemptionFromAct="Y">
        <releaseNumberInfo releaseNumber="IC-28230"/>
        <releaseNumberInfo releaseNumber="IC-31990"/>
        <releaseNumberInfo releaseNumber="IC-30927"/>
        <releaseNumberInfo releaseNumber="IC-34180"/>
      </releaseNumbers>
      <principalUnderwriters>
        <principalUnderwriter>
          <principalUnderwriterName>JPMorgan Distribution Services, Inc.</principalUnderwriterName>
          <principalUnderwriterFileNumber>8-52700</principalUnderwriterFileNumber>
          <principalUnderwriterCrdNumber>000104234</principalUnderwriterCrdNumber>
          <principalUnderwriterLei>N/A</principalUnderwriterLei>
          <principalUnderWriterStateCountry principalUnderWriterCountry="US" principalUnderWriterState="US-OH"/>
          <isPrincipalUnderwriterAffiliatedWithRegistrant>Y</isPrincipalUnderwriterAffiliatedWithRegistrant>
        </principalUnderwriter>
      </principalUnderwriters>
      <isUnderwriterHiredOrTerminated>N</isUnderwriterHiredOrTerminated>
      <publicAccountants>
        <publicAccountant>
          <publicAccountantName>PricewaterhouseCoopers LLP</publicAccountantName>
          <pcaobNumber>238</pcaobNumber>
          <publicAccountantLei>5493002GVO7EO8RNNS37</publicAccountantLei>
          <publicAccountantStateCountry publicAccountantCountry="US" publicAccountantState="US-NY"/>
        </publicAccountant>
      </publicAccountants>
      <isPublicAccountantChanged>N</isPublicAccountantChanged>
      <isMaterialWeakness>N</isMaterialWeakness>
      <isOpinionOffered>N</isOpinionOffered>
      <isMaterialChange>N</isMaterialChange>
      <isAccountingPrincipleChange>N</isAccountingPrincipleChange>
      <isPaymentErrorInNetAssetValue>N</isPaymentErrorInNetAssetValue>
      <paymentDividendSeries isPaymentDividend="Y">
        <seriesInfo seriesName="JPMorgan Corporate Bond Research Enhanced ETF" seriesId="S000063667"/>
        <seriesInfo seriesName="JPMorgan Ultra-Short Income ETF" seriesId="S000054790"/>
        <seriesInfo seriesName="JPMorgan Short Duration Core Plus ETF" seriesId="S000071090"/>
        <seriesInfo seriesName="JPMorgan Active Value ETF" seriesId="S000072931"/>
        <seriesInfo seriesName="JPMorgan BetaBuilders 1-5 Year U.S. Aggregate Bond ETF" seriesId="S000064871"/>
        <seriesInfo seriesName="JPMorgan U.S. Aggregate Bond ETF" seriesId="S000063668"/>
        <seriesInfo seriesName="JPMorgan International Growth ETF" seriesId="S000068407"/>
        <seriesInfo seriesName="JPMorgan ActiveBuilders Emerging Markets Equity ETF" seriesId="S000071185"/>
        <seriesInfo seriesName="JPMorgan Municipal ETF" seriesId="S000063268"/>
        <seriesInfo seriesName="JPMorgan Core Plus Bond ETF" seriesId="S000063265"/>
      </paymentDividendSeries>
    </registrantInfo>
    <managementInvestmentQuestionSeriesInfo>
      <managementInvestmentQuestion>
        <mgmtInvFundName>JPMorgan Ultra-Short Municipal Income ETF</mgmtInvFundName>
        <mgmtInvSeriesId>S000063269</mgmtInvSeriesId>
        <mgmtInvLei>549300C27W430AWFZC05</mgmtInvLei>
        <isFirstFilingByFund>N</isFirstFilingByFund>
        <numAuthorizedClass>0</numAuthorizedClass>
        <numAddedClass>0</numAddedClass>
        <numTerminatedClass>0</numTerminatedClass>
        <sharesOutstandings>
          <sharesOutstanding sharesOutstandingClassName="JPMorgan Ultra-Short Municipal Income ETF" sharesOutstandingClassId="C000205216" sharesOutstandingTickerSymbol="JMST"/>
        </sharesOutstandings>
        <fundTypes>
          <fundType>Exchange-Traded Fund</fundType>
        </fundTypes>
        <isNonDiversifiedCompany>N</isNonDiversifiedCompany>
        <isForeignSubsidiary>N</isForeignSubsidiary>
        <isFundSecuritiesLending>Y</isFundSecuritiesLending>
        <didFundLendSecurities>N</didFundLendSecurities>
        <securityLendings>
          <securityLending>
            <securitiesAgentName>Citibank N.A.</securitiesAgentName>
            <securitiesAgentLei>E57ODZWZ7FF32TWEFA76</securitiesAgentLei>
            <isSecuritiesAgentAffiliated>N</isSecuritiesAgentAffiliated>
            <securityAgentIdemnity isSecurityAgentIdemnity="Y">
              <idemnityProviders>
                <idemnityProvider idemnityProviderName="N/A" idemnityProviderLei="N/A"/>
              </idemnityProviders>
              <didIndemnificationRights>N</didIndemnificationRights>
            </securityAgentIdemnity>
          </securityLending>
        </securityLendings>
        <collateralManagers>
          <collateralManager collateralManagerName="J.P. Morgan Investment Management Inc." collateralManagerLei="549300W78QHV4XMM6K69" isCollateralManagerAffliliated="N" isCollateralManagerAffliliatedWithFund="Y"/>
        </collateralManagers>
        <paymentToAgentManagers>
          <paymentToAgentManagerType>Revenue sharing split</paymentToAgentManagerType>
          <paymentToAgentManagerType>Cash collateral reinvestment fee</paymentToAgentManagerType>
        </paymentToAgentManagers>
        <avgPortfolioSecuritiesValue>0.00000000</avgPortfolioSecuritiesValue>
        <netIncomeSecuritiesLending>0.00000000</netIncomeSecuritiesLending>
        <relyOnRuleTypes>
          <relyOnRuleType>Rule 12d1-4 (17 CFR 270.12d1-4)</relyOnRuleType>
          <relyOnRuleType>Rule 10f-3 (17 CFR 270.10f-3)</relyOnRuleType>
          <relyOnRuleType>Rule 12d1-1 (17 CFR 270.12d1-1)</relyOnRuleType>
          <relyOnRuleType>Rule 32a-4 (17 CFR 270.32a-4)</relyOnRuleType>
          <relyOnRuleType>Rule 6c-11 (17 CFR 270.6c-11)</relyOnRuleType>
        </relyOnRuleTypes>
        <isExpenseLimitationInPlace>Y</isExpenseLimitationInPlace>
        <isExpenseReducedOrWaived>Y</isExpenseReducedOrWaived>
        <isFeesWaivedRecoupable>N</isFeesWaivedRecoupable>
        <isExpenseWaivedRecoupable>N</isExpenseWaivedRecoupable>
        <investmentAdvisers>
          <investmentAdviser>
            <investmentAdviserName>J.P. Morgan Investment Management Inc.</investmentAdviserName>
            <investmentAdviserFileNo>801-21011</investmentAdviserFileNo>
            <investmentAdviserCrdNo>000107038</investmentAdviserCrdNo>
            <investmentAdviserLei>549300W78QHV4XMM6K69</investmentAdviserLei>
            <investmentAdviserStateCountry investmentAdviserState="US-NY" investmentAdviserCountry="US"/>
            <isInvestmentAdviserHired>N</isInvestmentAdviserHired>
          </investmentAdviser>
        </investmentAdvisers>
        <transferAgents>
          <transferAgent>
            <transferAgentName>JPMorgan Chase Bank, N.A.</transferAgentName>
            <transferAgentFileNo>N/A</transferAgentFileNo>
            <transferAgentLei>7H6GLXDRUGQFU57RNE97</transferAgentLei>
            <transferAgentStateCountry transferAgentState="US-NY" transferAgentCountry="US"/>
            <isTransferAgentAffiliated>Y</isTransferAgentAffiliated>
            <isTransferAgentSubAgent>N</isTransferAgentSubAgent>
          </transferAgent>
        </transferAgents>
        <isTransferAgentHiredOrTerminated>N</isTransferAgentHiredOrTerminated>
        <pricingServices>
          <pricingService>
            <pricingServiceName>ICE Data Pricing &amp; Reference Data, LLC</pricingServiceName>
            <pricingServiceLei>5493000NQ9LYLDBCTL34</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
        </pricingServices>
        <isPricingServiceHiredOrTerminated>N</isPricingServiceHiredOrTerminated>
        <custodians>
          <custodian>
            <custodianName>BofA Securities, Inc.</custodianName>
            <custodianLei>549300HN4UKV1E2R3U73</custodianLei>
            <custodianStateCountry custodianState="US-NY" custodianCountry="US"/>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Futures commission merchants and commodity clearing organizations - rule 17f-6 (17 CFR 270.17f-6)</custodyType>
          </custodian>
          <custodian>
            <custodianName>JPMorgan Chase Bank, N.A.</custodianName>
            <custodianLei>7H6GLXDRUGQFU57RNE97</custodianLei>
            <custodianStateCountry custodianState="US-NY" custodianCountry="US"/>
            <isCustodianAffiliated>Y</isCustodianAffiliated>
            <isSubCustodian>N</isSubCustodian>
            <custodyType>Self - rule 17f-2 (17 CFR 270.17f-2)</custodyType>
          </custodian>
        </custodians>
        <isCustodianHiredOrTerminated>N</isCustodianHiredOrTerminated>
        <isShareholderServiceHiredTerminated>N</isShareholderServiceHiredTerminated>
        <admins>
          <admin>
            <adminName>J.P. Morgan Investment Management Inc.</adminName>
            <adminLei>549300W78QHV4XMM6K69</adminLei>
            <adminStateCountry adminState="US-NY" adminCountry="US"/>
            <isAdminAffiliated>Y</isAdminAffiliated>
            <isAdminSubAdmin>N</isAdminSubAdmin>
          </admin>
          <admin>
            <adminName>JPMorgan Chase Bank, N.A.</adminName>
            <adminLei>7H6GLXDRUGQFU57RNE97</adminLei>
            <adminStateCountry adminState="US-NY" adminCountry="US"/>
            <isAdminAffiliated>Y</isAdminAffiliated>
            <isAdminSubAdmin>Y</isAdminSubAdmin>
          </admin>
        </admins>
        <isAdminHiredOrTerminated>N</isAdminHiredOrTerminated>
        <aggregateCommission>0.00000000</aggregateCommission>
        <principalTransactions>
          <principalTransaction>
            <principalName>BNY Mellon Capital Markets, LLC</principalName>
            <principalFileNo>8-35255</principalFileNo>
            <principalCrdNo>000017454</principalCrdNo>
            <principalLei>VJW2DOOHGDT6PR0ZRO63</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>148182829.64</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>BofA Securities, Inc.</principalName>
            <principalFileNo>8-69787</principalFileNo>
            <principalCrdNo>000283942</principalCrdNo>
            <principalLei>549300HN4UKV1E2R3U73</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>123665233.69000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Wells Fargo Securities, LLC</principalName>
            <principalFileNo>8-65876</principalFileNo>
            <principalCrdNo>000126292</principalCrdNo>
            <principalLei>VYVVCKR63DVZZN70PB21</principalLei>
            <principalStateCountry principalState="US-NC" principalCountry="US"/>
            <principalTotalPurchaseSale>126712405.01000001</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Barclays Capital, Inc.</principalName>
            <principalFileNo>8-41342</principalFileNo>
            <principalCrdNo>000019714</principalCrdNo>
            <principalLei>AC28XWWI3WIBK2824319</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>286907628.20000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Citigroup Global Markets Inc.</principalName>
            <principalFileNo>8-08177</principalFileNo>
            <principalCrdNo>000007059</principalCrdNo>
            <principalLei>MBNUM2BPBDO7JBLYG310</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>258132524.51000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Morgan Stanley &amp; Co. LLC</principalName>
            <principalFileNo>8-15869</principalFileNo>
            <principalCrdNo>000008209</principalCrdNo>
            <principalLei>9R7GPTSO7KV3UQJZQ078</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>167122448.97000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>SWBC Investment Services, LLC</principalName>
            <principalFileNo>8-66764</principalFileNo>
            <principalCrdNo>000133715</principalCrdNo>
            <principalLei>254900YIJJWABADWZ455</principalLei>
            <principalStateCountry principalState="US-TX" principalCountry="US"/>
            <principalTotalPurchaseSale>321609482.35000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Pershing LLC</principalName>
            <principalFileNo>8-17574</principalFileNo>
            <principalCrdNo>000007560</principalCrdNo>
            <principalLei>ZI8Q1A8EI8LQFJNM0D94</principalLei>
            <principalStateCountry principalState="US-NJ" principalCountry="US"/>
            <principalTotalPurchaseSale>668828470.01000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>National Financial Services LLC</principalName>
            <principalFileNo>8-26740</principalFileNo>
            <principalCrdNo>000013041</principalCrdNo>
            <principalLei>549300JRHF1MHHWUAW04</principalLei>
            <principalStateCountry principalState="US-MA" principalCountry="US"/>
            <principalTotalPurchaseSale>218558925.32000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>RBC Capital Markets, LLC</principalName>
            <principalFileNo>8-45411</principalFileNo>
            <principalCrdNo>000031194</principalCrdNo>
            <principalLei>549300LCO2FLSSVFFR64</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>126868810.90000001</principalTotalPurchaseSale>
          </principalTransaction>
        </principalTransactions>
        <principalAggregatePurchase>3365792115.37000000</principalAggregatePurchase>
        <isBrokerageResearchPayment>N</isBrokerageResearchPayment>
        <mnthlyAvgNetAssets>2068765044.90</mnthlyAvgNetAssets>
        <hasLineOfCredit>N</hasLineOfCredit>
        <isInterfundLending>N</isInterfundLending>
        <isInterfundBorrowing>N</isInterfundBorrowing>
      </managementInvestmentQuestion>
      <managementInvestmentQuestion>
        <mgmtInvFundName>JPMorgan Corporate Bond Research Enhanced ETF</mgmtInvFundName>
        <mgmtInvSeriesId>S000063667</mgmtInvSeriesId>
        <mgmtInvLei>549300KU2F2QTTPINB11</mgmtInvLei>
        <isFirstFilingByFund>N</isFirstFilingByFund>
        <numAuthorizedClass>0</numAuthorizedClass>
        <numAddedClass>0</numAddedClass>
        <numTerminatedClass>0</numTerminatedClass>
        <sharesOutstandings>
          <sharesOutstanding sharesOutstandingClassName="JPMorgan Corporate Bond Research Enhanced ETF" sharesOutstandingClassId="C000206281" sharesOutstandingTickerSymbol="JIGB"/>
        </sharesOutstandings>
        <fundTypes>
          <fundType>Exchange-Traded Fund</fundType>
        </fundTypes>
        <isNonDiversifiedCompany>N</isNonDiversifiedCompany>
        <isForeignSubsidiary>N</isForeignSubsidiary>
        <isFundSecuritiesLending>Y</isFundSecuritiesLending>
        <didFundLendSecurities>N</didFundLendSecurities>
        <securityLendings>
          <securityLending>
            <securitiesAgentName>Citibank N.A.</securitiesAgentName>
            <securitiesAgentLei>E57ODZWZ7FF32TWEFA76</securitiesAgentLei>
            <isSecuritiesAgentAffiliated>N</isSecuritiesAgentAffiliated>
            <securityAgentIdemnity isSecurityAgentIdemnity="Y">
              <idemnityProviders>
                <idemnityProvider idemnityProviderName="N/A" idemnityProviderLei="N/A"/>
              </idemnityProviders>
              <didIndemnificationRights>N</didIndemnificationRights>
            </securityAgentIdemnity>
          </securityLending>
        </securityLendings>
        <collateralManagers>
          <collateralManager collateralManagerName="J.P. Morgan Investment Management Inc." collateralManagerLei="549300W78QHV4XMM6K69" isCollateralManagerAffliliated="N" isCollateralManagerAffliliatedWithFund="Y"/>
        </collateralManagers>
        <paymentToAgentManagers>
          <paymentToAgentManagerType>Revenue sharing split</paymentToAgentManagerType>
          <paymentToAgentManagerType>Cash collateral reinvestment fee</paymentToAgentManagerType>
        </paymentToAgentManagers>
        <avgPortfolioSecuritiesValue>0.00000000</avgPortfolioSecuritiesValue>
        <netIncomeSecuritiesLending>0.00000000</netIncomeSecuritiesLending>
        <relyOnRuleTypes>
          <relyOnRuleType>Rule 32a-4 (17 CFR 270.32a-4)</relyOnRuleType>
          <relyOnRuleType>Rule 6c-11 (17 CFR 270.6c-11)</relyOnRuleType>
          <relyOnRuleType>Rule 12d1-4 (17 CFR 270.12d1-4)</relyOnRuleType>
          <relyOnRuleType>Rule 12d1-1 (17 CFR 270.12d1-1)</relyOnRuleType>
        </relyOnRuleTypes>
        <isExpenseLimitationInPlace>Y</isExpenseLimitationInPlace>
        <isExpenseReducedOrWaived>Y</isExpenseReducedOrWaived>
        <isFeesWaivedRecoupable>N</isFeesWaivedRecoupable>
        <isExpenseWaivedRecoupable>N</isExpenseWaivedRecoupable>
        <investmentAdvisers>
          <investmentAdviser>
            <investmentAdviserName>J.P. Morgan Investment Management Inc.</investmentAdviserName>
            <investmentAdviserFileNo>801-21011</investmentAdviserFileNo>
            <investmentAdviserCrdNo>000107038</investmentAdviserCrdNo>
            <investmentAdviserLei>549300W78QHV4XMM6K69</investmentAdviserLei>
            <investmentAdviserStateCountry investmentAdviserState="US-NY" investmentAdviserCountry="US"/>
            <isInvestmentAdviserHired>N</isInvestmentAdviserHired>
          </investmentAdviser>
        </investmentAdvisers>
        <transferAgents>
          <transferAgent>
            <transferAgentName>JPMorgan Chase Bank, N.A.</transferAgentName>
            <transferAgentFileNo>N/A</transferAgentFileNo>
            <transferAgentLei>7H6GLXDRUGQFU57RNE97</transferAgentLei>
            <transferAgentStateCountry transferAgentState="US-NY" transferAgentCountry="US"/>
            <isTransferAgentAffiliated>Y</isTransferAgentAffiliated>
            <isTransferAgentSubAgent>N</isTransferAgentSubAgent>
          </transferAgent>
        </transferAgents>
        <isTransferAgentHiredOrTerminated>N</isTransferAgentHiredOrTerminated>
        <pricingServices>
          <pricingService>
            <pricingServiceName>PricingDirect Inc.</pricingServiceName>
            <pricingServiceLei>549300WIC0TOJ7N7GD54</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>Refinitiv Global Markets Inc.</pricingServiceName>
            <pricingServiceLei>000109120</pricingServiceLei>
            <pricingServiceIdNumberDesc>CRD</pricingServiceIdNumberDesc>
            <pricingServiceStateCountry pricingServiceState="US-MA" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>ICE Data Pricing &amp; Reference Data, LLC</pricingServiceName>
            <pricingServiceLei>5493000NQ9LYLDBCTL34</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>Bloomberg L.P.</pricingServiceName>
            <pricingServiceLei>549300B56MD0ZC402L06</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
        </pricingServices>
        <isPricingServiceHiredOrTerminated>N</isPricingServiceHiredOrTerminated>
        <custodians>
          <custodian>
            <custodianName>JPMorgan Chase Bank, N.A.</custodianName>
            <custodianLei>7H6GLXDRUGQFU57RNE97</custodianLei>
            <custodianStateCountry custodianState="US-NY" custodianCountry="US"/>
            <isCustodianAffiliated>Y</isCustodianAffiliated>
            <isSubCustodian>N</isSubCustodian>
            <custodyType>Self - rule 17f-2 (17 CFR 270.17f-2)</custodyType>
          </custodian>
          <custodian>
            <custodianName>BofA Securities, Inc.</custodianName>
            <custodianLei>549300HN4UKV1E2R3U73</custodianLei>
            <custodianStateCountry custodianState="US-NY" custodianCountry="US"/>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Futures commission merchants and commodity clearing organizations - rule 17f-6 (17 CFR 270.17f-6)</custodyType>
          </custodian>
        </custodians>
        <isCustodianHiredOrTerminated>N</isCustodianHiredOrTerminated>
        <isShareholderServiceHiredTerminated>N</isShareholderServiceHiredTerminated>
        <admins>
          <admin>
            <adminName>J.P. Morgan Investment Management Inc.</adminName>
            <adminLei>549300W78QHV4XMM6K69</adminLei>
            <adminStateCountry adminState="US-NY" adminCountry="US"/>
            <isAdminAffiliated>Y</isAdminAffiliated>
            <isAdminSubAdmin>N</isAdminSubAdmin>
          </admin>
          <admin>
            <adminName>JPMorgan Chase Bank, N.A.</adminName>
            <adminLei>7H6GLXDRUGQFU57RNE97</adminLei>
            <adminStateCountry adminState="US-NY" adminCountry="US"/>
            <isAdminAffiliated>Y</isAdminAffiliated>
            <isAdminSubAdmin>Y</isAdminSubAdmin>
          </admin>
        </admins>
        <isAdminHiredOrTerminated>N</isAdminHiredOrTerminated>
        <brokers>
          <broker>
            <brokerName>Morgan Stanley &amp; Co. LLC</brokerName>
            <brokerFileNo>8-15869</brokerFileNo>
            <brokerCrdNo>000008209</brokerCrdNo>
            <brokerLei>9R7GPTSO7KV3UQJZQ078</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>8.95</grossCommission>
          </broker>
          <broker>
            <brokerName>Citigroup Global Markets Inc.</brokerName>
            <brokerFileNo>8-08177</brokerFileNo>
            <brokerCrdNo>000007059</brokerCrdNo>
            <brokerLei>MBNUM2BPBDO7JBLYG310</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>357.45000000</grossCommission>
          </broker>
          <broker>
            <brokerName>Goldman Sachs &amp; Co. LLC</brokerName>
            <brokerFileNo>8-00129</brokerFileNo>
            <brokerCrdNo>000000361</brokerCrdNo>
            <brokerLei>FOR8UP27PHTHYVLBNG30</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>336.20000000</grossCommission>
          </broker>
          <broker>
            <brokerName>Barclays Capital, Inc.</brokerName>
            <brokerFileNo>8-41342</brokerFileNo>
            <brokerCrdNo>000019714</brokerCrdNo>
            <brokerLei>AC28XWWI3WIBK2824319</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>58.35000000</grossCommission>
          </broker>
          <broker>
            <brokerName>BofA Securities, Inc.</brokerName>
            <brokerFileNo>8-69787</brokerFileNo>
            <brokerCrdNo>000283942</brokerCrdNo>
            <brokerLei>549300HN4UKV1E2R3U73</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>12.95000000</grossCommission>
          </broker>
          <broker>
            <brokerName>Deutsche Bank Securities Inc.</brokerName>
            <brokerFileNo>8-17822</brokerFileNo>
            <brokerCrdNo>000002525</brokerCrdNo>
            <brokerLei>9J6MBOOO7BECTDTUZW19</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>108.10000000</grossCommission>
          </broker>
          <broker>
            <brokerName>Merrill Lynch, Pierce, Fenner &amp; Smith Inc.</brokerName>
            <brokerFileNo>8-07221</brokerFileNo>
            <brokerCrdNo>000007691</brokerCrdNo>
            <brokerLei>8NAV47T0Y26Q87Y0QP81</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>14.50000000</grossCommission>
          </broker>
        </brokers>
        <aggregateCommission>896.50000000</aggregateCommission>
        <principalTransactions>
          <principalTransaction>
            <principalName>Barclays Capital, Inc.</principalName>
            <principalFileNo>8-41342</principalFileNo>
            <principalCrdNo>000019714</principalCrdNo>
            <principalLei>AC28XWWI3WIBK2824319</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>2407025.59000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>MarketAxess Corporation</principalName>
            <principalFileNo>8-50727</principalFileNo>
            <principalCrdNo>000044542</principalCrdNo>
            <principalLei>GPSMMRI21JE7ZCVYF972</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>3497752.90000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Goldman Sachs &amp; Co. LLC</principalName>
            <principalFileNo>8-00129</principalFileNo>
            <principalCrdNo>000000361</principalCrdNo>
            <principalLei>FOR8UP27PHTHYVLBNG30</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>4698138.90000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Jane Street Execution Services, LLC</principalName>
            <principalFileNo>8-69254</principalFileNo>
            <principalCrdNo>000167280</principalCrdNo>
            <principalLei>549300HXJLXCPDWAH070</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>3545246.39000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Citigroup Global Markets Inc.</principalName>
            <principalFileNo>8-08177</principalFileNo>
            <principalCrdNo>000007059</principalCrdNo>
            <principalLei>MBNUM2BPBDO7JBLYG310</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>3213267.49000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Deutsche Bank Securities Inc.</principalName>
            <principalFileNo>8-17822</principalFileNo>
            <principalCrdNo>000002525</principalCrdNo>
            <principalLei>9J6MBOOO7BECTDTUZW19</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>2265215.50000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Morgan Stanley &amp; Co. LLC</principalName>
            <principalFileNo>8-15869</principalFileNo>
            <principalCrdNo>000008209</principalCrdNo>
            <principalLei>9R7GPTSO7KV3UQJZQ078</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>4434055.67000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Millennium Advisors, LLC</principalName>
            <principalFileNo>8-68349</principalFileNo>
            <principalCrdNo>000151236</principalCrdNo>
            <principalLei>254900E1P6Z2XZYSA163</principalLei>
            <principalStateCountry principalState="US-NC" principalCountry="US"/>
            <principalTotalPurchaseSale>1765645.84000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>BofA Securities, Inc.</principalName>
            <principalFileNo>8-69787</principalFileNo>
            <principalCrdNo>000283942</principalCrdNo>
            <principalLei>549300HN4UKV1E2R3U73</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>1849172.66000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>BNP Paribas Securities Corp.</principalName>
            <principalFileNo>8-32682</principalFileNo>
            <principalCrdNo>000015794</principalCrdNo>
            <principalLei>RCNB6OTYUAMMP879YW96</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>1490785.34000000</principalTotalPurchaseSale>
          </principalTransaction>
        </principalTransactions>
        <principalAggregatePurchase>34300129.09000000</principalAggregatePurchase>
        <isBrokerageResearchPayment>N</isBrokerageResearchPayment>
        <mnthlyAvgNetAssets>54716396.44</mnthlyAvgNetAssets>
        <hasLineOfCredit>N</hasLineOfCredit>
        <isInterfundLending>N</isInterfundLending>
        <isInterfundBorrowing>N</isInterfundBorrowing>
      </managementInvestmentQuestion>
      <managementInvestmentQuestion>
        <mgmtInvFundName>JPMorgan International Bond Opportunities ETF</mgmtInvFundName>
        <mgmtInvSeriesId>S000054802</mgmtInvSeriesId>
        <mgmtInvLei>549300PP3H1CINB2QS44</mgmtInvLei>
        <isFirstFilingByFund>N</isFirstFilingByFund>
        <numAuthorizedClass>0</numAuthorizedClass>
        <numAddedClass>0</numAddedClass>
        <numTerminatedClass>0</numTerminatedClass>
        <sharesOutstandings>
          <sharesOutstanding sharesOutstandingClassName="JPMorgan International Bond Opportunities ETF" sharesOutstandingClassId="C000172241" sharesOutstandingTickerSymbol="JPIB"/>
        </sharesOutstandings>
        <fundTypes>
          <fundType>Exchange-Traded Fund</fundType>
        </fundTypes>
        <isNonDiversifiedCompany>N</isNonDiversifiedCompany>
        <isForeignSubsidiary>N</isForeignSubsidiary>
        <isFundSecuritiesLending>N</isFundSecuritiesLending>
        <didFundLendSecurities>N</didFundLendSecurities>
        <paymentToAgentManagerType>N/A</paymentToAgentManagerType>
        <avgPortfolioSecuritiesValue>0.00000000</avgPortfolioSecuritiesValue>
        <netIncomeSecuritiesLending>0.00000000</netIncomeSecuritiesLending>
        <relyOnRuleTypes>
          <relyOnRuleType>Rule 32a-4 (17 CFR 270.32a-4)</relyOnRuleType>
          <relyOnRuleType>Rule 10f-3 (17 CFR 270.10f-3)</relyOnRuleType>
          <relyOnRuleType>Rule 12d1-1 (17 CFR 270.12d1-1)</relyOnRuleType>
          <relyOnRuleType>Rule 12d1-4 (17 CFR 270.12d1-4)</relyOnRuleType>
          <relyOnRuleType>Rule 6c-11 (17 CFR 270.6c-11)</relyOnRuleType>
        </relyOnRuleTypes>
        <isExpenseLimitationInPlace>Y</isExpenseLimitationInPlace>
        <isExpenseReducedOrWaived>Y</isExpenseReducedOrWaived>
        <isFeesWaivedRecoupable>N</isFeesWaivedRecoupable>
        <isExpenseWaivedRecoupable>N</isExpenseWaivedRecoupable>
        <investmentAdvisers>
          <investmentAdviser>
            <investmentAdviserName>J.P. Morgan Investment Management Inc.</investmentAdviserName>
            <investmentAdviserFileNo>801-21011</investmentAdviserFileNo>
            <investmentAdviserCrdNo>000107038</investmentAdviserCrdNo>
            <investmentAdviserLei>549300W78QHV4XMM6K69</investmentAdviserLei>
            <investmentAdviserStateCountry investmentAdviserState="US-NY" investmentAdviserCountry="US"/>
            <isInvestmentAdviserHired>N</isInvestmentAdviserHired>
          </investmentAdviser>
        </investmentAdvisers>
        <transferAgents>
          <transferAgent>
            <transferAgentName>JPMorgan Chase Bank, N.A.</transferAgentName>
            <transferAgentFileNo>N/A</transferAgentFileNo>
            <transferAgentLei>7H6GLXDRUGQFU57RNE97</transferAgentLei>
            <transferAgentStateCountry transferAgentState="US-NY" transferAgentCountry="US"/>
            <isTransferAgentAffiliated>Y</isTransferAgentAffiliated>
            <isTransferAgentSubAgent>N</isTransferAgentSubAgent>
          </transferAgent>
        </transferAgents>
        <isTransferAgentHiredOrTerminated>N</isTransferAgentHiredOrTerminated>
        <pricingServices>
          <pricingService>
            <pricingServiceName>PricingDirect Inc.</pricingServiceName>
            <pricingServiceLei>549300WIC0TOJ7N7GD54</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>Bloomberg L.P.</pricingServiceName>
            <pricingServiceLei>549300B56MD0ZC402L06</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>ICE Data Pricing &amp; Reference Data, LLC</pricingServiceName>
            <pricingServiceLei>5493000NQ9LYLDBCTL34</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>Refinitiv Global Markets Inc.</pricingServiceName>
            <pricingServiceLei>000109120</pricingServiceLei>
            <pricingServiceIdNumberDesc>CRD</pricingServiceIdNumberDesc>
            <pricingServiceStateCountry pricingServiceState="US-MA" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
        </pricingServices>
        <isPricingServiceHiredOrTerminated>N</isPricingServiceHiredOrTerminated>
        <custodians>
          <custodian>
            <custodianName>J.P. Morgan S.A. DTVM</custodianName>
            <custodianLei>5493001LS7J56NZZ3G07</custodianLei>
            <custodianCountry>BR</custodianCountry>
            <isCustodianAffiliated>Y</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>J.P. Morgan Bank Luxembourg S.A.</custodianName>
            <custodianLei>7W1GMC6J4KGLBBUSYP52</custodianLei>
            <custodianCountry>NL</custodianCountry>
            <isCustodianAffiliated>Y</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>JPMorgan Chase Bank, N.A.</custodianName>
            <custodianLei>7H6GLXDRUGQFU57RNE97</custodianLei>
            <custodianCountry>GB</custodianCountry>
            <isCustodianAffiliated>Y</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>BNP Paribas Securities Services S.C.A.</custodianName>
            <custodianLei>549300WCGB70D06XZS54</custodianLei>
            <custodianCountry>PT</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>JPMorgan Chase Bank, N.A.</custodianName>
            <custodianLei>7H6GLXDRUGQFU57RNE97</custodianLei>
            <custodianCountry>HK</custodianCountry>
            <isCustodianAffiliated>Y</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>HSBC France Athens Branch</custodianName>
            <custodianLei>MP6I5ZYZBEU3UXPYFY54</custodianLei>
            <custodianCountry>GR</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>UniCredit Bank Czech Republic and Slovakia, a.s.</custodianName>
            <custodianLei>KR6LSKV3BTSJRD41IF75</custodianLei>
            <custodianCountry>CZ</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>PT Bank HSBC Indonesia</custodianName>
            <custodianLei>213800HW5IDIRLWH1203</custodianLei>
            <custodianCountry>ID</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>UniCredit Bank Czech Republic and Slovakia, a.s.</custodianName>
            <custodianLei>KR6LSKV3BTSJRD41IF75</custodianLei>
            <custodianCountry>SK</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>Citigroup Global Markets Inc.</custodianName>
            <custodianLei>MBNUM2BPBDO7JBLYG310</custodianLei>
            <custodianStateCountry custodianState="US-NY" custodianCountry="US"/>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Futures commission merchants and commodity clearing organizations - rule 17f-6 (17 CFR 270.17f-6)</custodyType>
          </custodian>
          <custodian>
            <custodianName>Deutsche Bank AG</custodianName>
            <custodianLei>7LTWFZYICNSX8D621K86</custodianLei>
            <custodianCountry>HU</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>JPMorgan Chase Bank, N.A.</custodianName>
            <custodianLei>7H6GLXDRUGQFU57RNE97</custodianLei>
            <custodianCountry>NZ</custodianCountry>
            <isCustodianAffiliated>Y</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>J.P. Morgan Bank Luxembourg S.A.</custodianName>
            <custodianLei>7W1GMC6J4KGLBBUSYP52</custodianLei>
            <custodianCountry>BE</custodianCountry>
            <isCustodianAffiliated>Y</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>JPMorgan Chase Bank, N.A.</custodianName>
            <custodianLei>7H6GLXDRUGQFU57RNE97</custodianLei>
            <custodianStateCountry custodianState="US-NY" custodianCountry="US"/>
            <isCustodianAffiliated>Y</isCustodianAffiliated>
            <isSubCustodian>N</isSubCustodian>
            <custodyType>Self - rule 17f-2 (17 CFR 270.17f-2)</custodyType>
          </custodian>
          <custodian>
            <custodianName>HSBC Bank Malaysia Berhad</custodianName>
            <custodianLei>P3RPN9OJFCXUPJWB1Q09</custodianLei>
            <custodianCountry>MY</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>Skandinaviska Enskilda Banken AB</custodianName>
            <custodianLei>F3JS33DEI6XQ4ZBPTN86</custodianLei>
            <custodianCountry>SE</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>JPMorgan Chase Bank, N.A.</custodianName>
            <custodianLei>7H6GLXDRUGQFU57RNE97</custodianLei>
            <custodianCountry>AU</custodianCountry>
            <isCustodianAffiliated>Y</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>UBS Switzerland AG</custodianName>
            <custodianLei>549300WOIFUSNYH0FL22</custodianLei>
            <custodianCountry>CH</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>The Hongkong and Shanghai Banking Corporation Limited</custodianName>
            <custodianLei>2HI3YI5320L3RW6NJ957</custodianLei>
            <custodianCountry>PH</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>UniCredit Bank Austria AG</custodianName>
            <custodianLei>D1HEB8VEU6D9M8ZUXG17</custodianLei>
            <custodianCountry>AT</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>SEB FINLAND</custodianName>
            <custodianLei>F3JS33DEI6XQ4ZBPTN86</custodianLei>
            <custodianCountry>FI</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>Stanbic IBTC Bank Plc</custodianName>
            <custodianLei>029200098C3K8BI2D551</custodianLei>
            <custodianCountry>NG</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>Citibank A.S.</custodianName>
            <custodianLei>CWZ8NZDH5SKY12Q4US31</custodianLei>
            <custodianCountry>TR</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>Standard Chartered Bank (Thai) Public Company Limited</custodianName>
            <custodianLei>549300O1LQYCQ7G1IM57</custodianLei>
            <custodianCountry>TH</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>FirstRand Bank Limited</custodianName>
            <custodianLei>ZAYQDKTCATIXF9OQY690</custodianLei>
            <custodianCountry>ZA</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>Citibank, N.A.</custodianName>
            <custodianLei>E57ODZWZ7FF32TWEFA76</custodianLei>
            <custodianCountry>EG</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>Mizuho Bank, Ltd.</custodianName>
            <custodianLei>RB0PEZSDGCO3JS6CEU02</custodianLei>
            <custodianCountry>JP</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>J.P. Morgan Bank Luxembourg S.A.</custodianName>
            <custodianLei>7W1GMC6J4KGLBBUSYP52</custodianLei>
            <custodianCountry>FR</custodianCountry>
            <isCustodianAffiliated>Y</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>Skandinaviska Enskilda Banken AB</custodianName>
            <custodianLei>F3JS33DEI6XQ4ZBPTN86</custodianLei>
            <custodianCountry>NO</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>Euroclear</custodianName>
            <custodianLei>549300OZ46BRLZ8Y6F65</custodianLei>
            <custodianCountry>BE</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign securities depository - rule 17f-7 (17 CFR 270.17f-7)</custodyType>
          </custodian>
          <custodian>
            <custodianName>Bank Handlowy w. Warszawie S.A.</custodianName>
            <custodianLei>XLEZHWWOI4HFQDGL4793</custodianLei>
            <custodianCountry>PL</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>J.P. Morgan Bank International (Limited Liability Company)</custodianName>
            <custodianLei>549300B831LSRSI6RA15</custodianLei>
            <custodianCountry>RU</custodianCountry>
            <isCustodianAffiliated>Y</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>Standard Chartered Bank Korea Limited</custodianName>
            <custodianLei>NUXTG47HHHM1K2L0SG39</custodianLei>
            <custodianCountry>KR</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>Cititrust Colombia S.A.</custodianName>
            <custodianLei>549300242J3IJCOSGI49</custodianLei>
            <custodianCountry>CO</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>Deutsche Bank AG</custodianName>
            <custodianLei>7LTWFZYICNSX8D621K86</custodianLei>
            <custodianCountry>DE</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>Bank Leumi le-Israel B.M.</custodianName>
            <custodianLei>7JDSZWRGUQY2DSTWCR57</custodianLei>
            <custodianCountry>IL</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>Royal Bank of Canada</custodianName>
            <custodianLei>ES7IP3U3RHIGC71XBU11</custodianLei>
            <custodianCountry>CA</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>DBS Bank Ltd</custodianName>
            <custodianLei>ATUEL7OJR5057F2PV266</custodianLei>
            <custodianCountry>SG</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>BNP Paribas Securities Services S.C.A.</custodianName>
            <custodianLei>549300WCGB70D06XZS54</custodianLei>
            <custodianCountry>IT</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>Banco Nacional de Mexico, S.A.</custodianName>
            <custodianLei>2SFFM4FUIE05S37WFU55</custodianLei>
            <custodianCountry>MX</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>Skandinaviska Enskilda Banken AB</custodianName>
            <custodianLei>F3JS33DEI6XQ4ZBPTN86</custodianLei>
            <custodianCountry>DK</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
        </custodians>
        <isCustodianHiredOrTerminated>N</isCustodianHiredOrTerminated>
        <isShareholderServiceHiredTerminated>N</isShareholderServiceHiredTerminated>
        <admins>
          <admin>
            <adminName>JPMorgan Chase Bank, N.A.</adminName>
            <adminLei>7H6GLXDRUGQFU57RNE97</adminLei>
            <adminStateCountry adminState="US-NY" adminCountry="US"/>
            <isAdminAffiliated>Y</isAdminAffiliated>
            <isAdminSubAdmin>Y</isAdminSubAdmin>
          </admin>
          <admin>
            <adminName>J.P. Morgan Investment Management Inc.</adminName>
            <adminLei>549300W78QHV4XMM6K69</adminLei>
            <adminStateCountry adminState="US-NY" adminCountry="US"/>
            <isAdminAffiliated>Y</isAdminAffiliated>
            <isAdminSubAdmin>N</isAdminSubAdmin>
          </admin>
        </admins>
        <isAdminHiredOrTerminated>N</isAdminHiredOrTerminated>
        <brokers>
          <broker>
            <brokerName>Morgan Stanley &amp; Co. LLC</brokerName>
            <brokerFileNo>8-15869</brokerFileNo>
            <brokerCrdNo>000008209</brokerCrdNo>
            <brokerLei>9R7GPTSO7KV3UQJZQ078</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>585.76000000</grossCommission>
          </broker>
          <broker>
            <brokerName>Citigroup Global Markets Inc.</brokerName>
            <brokerFileNo>8-08177</brokerFileNo>
            <brokerCrdNo>000007059</brokerCrdNo>
            <brokerLei>MBNUM2BPBDO7JBLYG310</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>4843.28000000</grossCommission>
          </broker>
          <broker>
            <brokerName>Barclays Capital, Inc.</brokerName>
            <brokerFileNo>8-41342</brokerFileNo>
            <brokerCrdNo>000019714</brokerCrdNo>
            <brokerLei>AC28XWWI3WIBK2824319</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>191.19000000</grossCommission>
          </broker>
          <broker>
            <brokerName>J.P. Morgan Securities LLC</brokerName>
            <brokerFileNo>8-35008</brokerFileNo>
            <brokerCrdNo>000000079</brokerCrdNo>
            <brokerLei>ZBUT11V806EZRVTWT807</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>20.07000000</grossCommission>
          </broker>
          <broker>
            <brokerName>Merrill Lynch, Pierce, Fenner &amp; Smith Inc.</brokerName>
            <brokerFileNo>8-07221</brokerFileNo>
            <brokerCrdNo>000007691</brokerCrdNo>
            <brokerLei>8NAV47T0Y26Q87Y0QP81</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>161.67</grossCommission>
          </broker>
          <broker>
            <brokerName>BofA Securities, Inc.</brokerName>
            <brokerFileNo>8-69787</brokerFileNo>
            <brokerCrdNo>000283942</brokerCrdNo>
            <brokerLei>549300HN4UKV1E2R3U73</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>53.55000000</grossCommission>
          </broker>
          <broker>
            <brokerName>Deutsche Bank Securities Inc.</brokerName>
            <brokerFileNo>8-17822</brokerFileNo>
            <brokerCrdNo>000002525</brokerCrdNo>
            <brokerLei>9J6MBOOO7BECTDTUZW19</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>575.10000000</grossCommission>
          </broker>
          <broker>
            <brokerName>Goldman Sachs &amp; Co. LLC</brokerName>
            <brokerFileNo>8-00129</brokerFileNo>
            <brokerCrdNo>000000361</brokerCrdNo>
            <brokerLei>FOR8UP27PHTHYVLBNG30</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>2272.26000000</grossCommission>
          </broker>
        </brokers>
        <aggregateCommission>8702.88</aggregateCommission>
        <principalTransactions>
          <principalTransaction>
            <principalName>Scotia Capital (USA) Inc.</principalName>
            <principalFileNo>8-03716</principalFileNo>
            <principalCrdNo>000002739</principalCrdNo>
            <principalLei>549300BLWPABP1VNME36</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>14029823.31000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>UBS Securities LLC</principalName>
            <principalFileNo>8-22651</principalFileNo>
            <principalCrdNo>000007654</principalCrdNo>
            <principalLei>T6FIZBDPKLYJKFCRVK44</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>22946467.39000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>RBC Capital Markets, LLC</principalName>
            <principalFileNo>8-45411</principalFileNo>
            <principalCrdNo>000031194</principalCrdNo>
            <principalLei>549300LCO2FLSSVFFR64</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>23900962.02000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>HSBC Securities (USA) Inc.</principalName>
            <principalFileNo>8-41562</principalFileNo>
            <principalCrdNo>000019585</principalCrdNo>
            <principalLei>CYYGQCGNHMHPSMRL3R97</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>22715988.31</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Citigroup Global Markets Inc.</principalName>
            <principalFileNo>8-08177</principalFileNo>
            <principalCrdNo>000007059</principalCrdNo>
            <principalLei>MBNUM2BPBDO7JBLYG310</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>33811548.50000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Morgan Stanley &amp; Co. LLC</principalName>
            <principalFileNo>8-15869</principalFileNo>
            <principalCrdNo>000008209</principalCrdNo>
            <principalLei>9R7GPTSO7KV3UQJZQ078</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>32075476.53000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Deutsche Bank Securities Inc.</principalName>
            <principalFileNo>8-17822</principalFileNo>
            <principalCrdNo>000002525</principalCrdNo>
            <principalLei>9J6MBOOO7BECTDTUZW19</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>14842078.04</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Barclays Capital, Inc.</principalName>
            <principalFileNo>8-41342</principalFileNo>
            <principalCrdNo>000019714</principalCrdNo>
            <principalLei>AC28XWWI3WIBK2824319</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>34462319.00000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Goldman Sachs &amp; Co. LLC</principalName>
            <principalFileNo>8-00129</principalFileNo>
            <principalCrdNo>000000361</principalCrdNo>
            <principalLei>FOR8UP27PHTHYVLBNG30</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>37953058.27000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Standard Chartered Bank</principalName>
            <principalFileNo>N/A</principalFileNo>
            <principalCrdNo>N/A</principalCrdNo>
            <principalLei>RILFO74KP1CM8P6PCT96</principalLei>
            <principalCountry>GB</principalCountry>
            <principalTotalPurchaseSale>13770214.06000000</principalTotalPurchaseSale>
          </principalTransaction>
        </principalTransactions>
        <principalAggregatePurchase>374415337.12000000</principalAggregatePurchase>
        <isBrokerageResearchPayment>N</isBrokerageResearchPayment>
        <mnthlyAvgNetAssets>294953016.95</mnthlyAvgNetAssets>
        <hasLineOfCredit>N</hasLineOfCredit>
        <isInterfundLending>N</isInterfundLending>
        <isInterfundBorrowing>N</isInterfundBorrowing>
      </managementInvestmentQuestion>
      <managementInvestmentQuestion>
        <mgmtInvFundName>JPMorgan Ultra-Short Income ETF</mgmtInvFundName>
        <mgmtInvSeriesId>S000054790</mgmtInvSeriesId>
        <mgmtInvLei>549300VN24B8TQAGGX74</mgmtInvLei>
        <isFirstFilingByFund>N</isFirstFilingByFund>
        <numAuthorizedClass>0</numAuthorizedClass>
        <numAddedClass>0</numAddedClass>
        <numTerminatedClass>0</numTerminatedClass>
        <sharesOutstandings>
          <sharesOutstanding sharesOutstandingClassName="JPMorgan Ultra-Short Income ETF" sharesOutstandingClassId="C000172198" sharesOutstandingTickerSymbol="JPST"/>
        </sharesOutstandings>
        <fundTypes>
          <fundType>Exchange-Traded Fund</fundType>
        </fundTypes>
        <isNonDiversifiedCompany>N</isNonDiversifiedCompany>
        <isForeignSubsidiary>N</isForeignSubsidiary>
        <isFundSecuritiesLending>Y</isFundSecuritiesLending>
        <fundLendSecurities didFundLendSecurities="Y">
          <isFundLiquidated>N</isFundLiquidated>
          <isFundAdverselyImpacted>N</isFundAdverselyImpacted>
        </fundLendSecurities>
        <securityLendings>
          <securityLending>
            <securitiesAgentName>Citibank N.A.</securitiesAgentName>
            <securitiesAgentLei>E57ODZWZ7FF32TWEFA76</securitiesAgentLei>
            <isSecuritiesAgentAffiliated>N</isSecuritiesAgentAffiliated>
            <securityAgentIdemnity isSecurityAgentIdemnity="Y">
              <idemnityProviders>
                <idemnityProvider idemnityProviderName="N/A" idemnityProviderLei="N/A"/>
              </idemnityProviders>
              <didIndemnificationRights>N</didIndemnificationRights>
            </securityAgentIdemnity>
          </securityLending>
        </securityLendings>
        <collateralManagers>
          <collateralManager collateralManagerName="J.P. Morgan Investment Management Inc." collateralManagerLei="549300W78QHV4XMM6K69" isCollateralManagerAffliliated="N" isCollateralManagerAffliliatedWithFund="Y"/>
        </collateralManagers>
        <paymentToAgentManagers>
          <paymentToAgentManagerType>Revenue sharing split</paymentToAgentManagerType>
          <paymentToAgentManagerType>Cash collateral reinvestment fee</paymentToAgentManagerType>
        </paymentToAgentManagers>
        <avgPortfolioSecuritiesValue>43282817.80000000</avgPortfolioSecuritiesValue>
        <netIncomeSecuritiesLending>84441.70000000</netIncomeSecuritiesLending>
        <relyOnRuleTypes>
          <relyOnRuleType>Rule 12d1-1 (17 CFR 270.12d1-1)</relyOnRuleType>
          <relyOnRuleType>Rule 32a-4 (17 CFR 270.32a-4)</relyOnRuleType>
          <relyOnRuleType>Rule 12d1-4 (17 CFR 270.12d1-4)</relyOnRuleType>
          <relyOnRuleType>Rule 10f-3 (17 CFR 270.10f-3)</relyOnRuleType>
          <relyOnRuleType>Rule 6c-11 (17 CFR 270.6c-11)</relyOnRuleType>
        </relyOnRuleTypes>
        <isExpenseLimitationInPlace>Y</isExpenseLimitationInPlace>
        <isExpenseReducedOrWaived>Y</isExpenseReducedOrWaived>
        <isFeesWaivedRecoupable>N</isFeesWaivedRecoupable>
        <isExpenseWaivedRecoupable>N</isExpenseWaivedRecoupable>
        <investmentAdvisers>
          <investmentAdviser>
            <investmentAdviserName>J.P. Morgan Investment Management Inc.</investmentAdviserName>
            <investmentAdviserFileNo>801-21011</investmentAdviserFileNo>
            <investmentAdviserCrdNo>000107038</investmentAdviserCrdNo>
            <investmentAdviserLei>549300W78QHV4XMM6K69</investmentAdviserLei>
            <investmentAdviserStateCountry investmentAdviserState="US-NY" investmentAdviserCountry="US"/>
            <isInvestmentAdviserHired>N</isInvestmentAdviserHired>
          </investmentAdviser>
        </investmentAdvisers>
        <transferAgents>
          <transferAgent>
            <transferAgentName>JPMorgan Chase Bank, N.A.</transferAgentName>
            <transferAgentFileNo>N/A</transferAgentFileNo>
            <transferAgentLei>7H6GLXDRUGQFU57RNE97</transferAgentLei>
            <transferAgentStateCountry transferAgentState="US-NY" transferAgentCountry="US"/>
            <isTransferAgentAffiliated>Y</isTransferAgentAffiliated>
            <isTransferAgentSubAgent>N</isTransferAgentSubAgent>
          </transferAgent>
        </transferAgents>
        <isTransferAgentHiredOrTerminated>N</isTransferAgentHiredOrTerminated>
        <pricingServices>
          <pricingService>
            <pricingServiceName>PricingDirect Inc.</pricingServiceName>
            <pricingServiceLei>549300WIC0TOJ7N7GD54</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>ICE Data Pricing &amp; Reference Data, LLC</pricingServiceName>
            <pricingServiceLei>5493000NQ9LYLDBCTL34</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>Refinitiv Global Markets Inc.</pricingServiceName>
            <pricingServiceLei>000109120</pricingServiceLei>
            <pricingServiceIdNumberDesc>CRD</pricingServiceIdNumberDesc>
            <pricingServiceStateCountry pricingServiceState="US-MA" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>Bloomberg L.P.</pricingServiceName>
            <pricingServiceLei>549300B56MD0ZC402L06</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
        </pricingServices>
        <isPricingServiceHiredOrTerminated>N</isPricingServiceHiredOrTerminated>
        <custodians>
          <custodian>
            <custodianName>Euroclear</custodianName>
            <custodianLei>549300OZ46BRLZ8Y6F65</custodianLei>
            <custodianCountry>BE</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign securities depository - rule 17f-7 (17 CFR 270.17f-7)</custodyType>
          </custodian>
          <custodian>
            <custodianName>JPMorgan Chase Bank, N.A.</custodianName>
            <custodianLei>7H6GLXDRUGQFU57RNE97</custodianLei>
            <custodianStateCountry custodianState="US-NY" custodianCountry="US"/>
            <isCustodianAffiliated>Y</isCustodianAffiliated>
            <isSubCustodian>N</isSubCustodian>
            <custodyType>Self - rule 17f-2 (17 CFR 270.17f-2)</custodyType>
          </custodian>
        </custodians>
        <isCustodianHiredOrTerminated>N</isCustodianHiredOrTerminated>
        <isShareholderServiceHiredTerminated>N</isShareholderServiceHiredTerminated>
        <admins>
          <admin>
            <adminName>J.P. Morgan Investment Management Inc.</adminName>
            <adminLei>549300W78QHV4XMM6K69</adminLei>
            <adminStateCountry adminState="US-NY" adminCountry="US"/>
            <isAdminAffiliated>Y</isAdminAffiliated>
            <isAdminSubAdmin>N</isAdminSubAdmin>
          </admin>
          <admin>
            <adminName>JPMorgan Chase Bank, N.A.</adminName>
            <adminLei>7H6GLXDRUGQFU57RNE97</adminLei>
            <adminStateCountry adminState="US-NY" adminCountry="US"/>
            <isAdminAffiliated>Y</isAdminAffiliated>
            <isAdminSubAdmin>Y</isAdminSubAdmin>
          </admin>
        </admins>
        <isAdminHiredOrTerminated>N</isAdminHiredOrTerminated>
        <brokers>
          <broker>
            <brokerName>Citigroup Global Markets Inc.</brokerName>
            <brokerFileNo>8-08177</brokerFileNo>
            <brokerCrdNo>000007059</brokerCrdNo>
            <brokerLei>MBNUM2BPBDO7JBLYG310</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>11661.80000000</grossCommission>
          </broker>
          <broker>
            <brokerName>Barclays Capital, Inc.</brokerName>
            <brokerFileNo>8-41342</brokerFileNo>
            <brokerCrdNo>000019714</brokerCrdNo>
            <brokerLei>AC28XWWI3WIBK2824319</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>82280.65</grossCommission>
          </broker>
          <broker>
            <brokerName>Goldman Sachs &amp; Co. LLC</brokerName>
            <brokerFileNo>8-00129</brokerFileNo>
            <brokerCrdNo>000000361</brokerCrdNo>
            <brokerLei>FOR8UP27PHTHYVLBNG30</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>26742.50000000</grossCommission>
          </broker>
          <broker>
            <brokerName>Deutsche Bank Securities Inc.</brokerName>
            <brokerFileNo>8-17822</brokerFileNo>
            <brokerCrdNo>000002525</brokerCrdNo>
            <brokerLei>9J6MBOOO7BECTDTUZW19</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>6337.80000000</grossCommission>
          </broker>
          <broker>
            <brokerName>BofA Securities, Inc.</brokerName>
            <brokerFileNo>8-69787</brokerFileNo>
            <brokerCrdNo>000283942</brokerCrdNo>
            <brokerLei>549300HN4UKV1E2R3U73</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>5415.15000000</grossCommission>
          </broker>
        </brokers>
        <aggregateCommission>132437.90000000</aggregateCommission>
        <principalTransactions>
          <principalTransaction>
            <principalName>Citigroup Global Markets Inc.</principalName>
            <principalFileNo>8-08177</principalFileNo>
            <principalCrdNo>000007059</principalCrdNo>
            <principalLei>MBNUM2BPBDO7JBLYG310</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>3903394518.51000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Wells Fargo Securities, LLC</principalName>
            <principalFileNo>8-65876</principalFileNo>
            <principalCrdNo>000126292</principalCrdNo>
            <principalLei>VYVVCKR63DVZZN70PB21</principalLei>
            <principalStateCountry principalState="US-NC" principalCountry="US"/>
            <principalTotalPurchaseSale>2096505596.97000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>RBC Capital Markets, LLC</principalName>
            <principalFileNo>8-45411</principalFileNo>
            <principalCrdNo>000031194</principalCrdNo>
            <principalLei>549300LCO2FLSSVFFR64</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>1067298471.13000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>BofA Securities, Inc.</principalName>
            <principalFileNo>8-69787</principalFileNo>
            <principalCrdNo>000283942</principalCrdNo>
            <principalLei>549300HN4UKV1E2R3U73</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>2802372946.08000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Mizuho Securities USA LLC</principalName>
            <principalFileNo>8-37710</principalFileNo>
            <principalCrdNo>000019647</principalCrdNo>
            <principalLei>7TK5RJIZDFROZCA6XF66</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>934177162.92</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Barclays Capital, Inc.</principalName>
            <principalFileNo>8-41342</principalFileNo>
            <principalCrdNo>000019714</principalCrdNo>
            <principalLei>AC28XWWI3WIBK2824319</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>689925119.16</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Goldman Sachs &amp; Co. LLC</principalName>
            <principalFileNo>8-00129</principalFileNo>
            <principalCrdNo>000000361</principalCrdNo>
            <principalLei>FOR8UP27PHTHYVLBNG30</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>1127627370.83000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Morgan Stanley &amp; Co. LLC</principalName>
            <principalFileNo>8-15869</principalFileNo>
            <principalCrdNo>000008209</principalCrdNo>
            <principalLei>9R7GPTSO7KV3UQJZQ078</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>1540682999.50000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Deutsche Bank Securities Inc.</principalName>
            <principalFileNo>8-17822</principalFileNo>
            <principalCrdNo>000002525</principalCrdNo>
            <principalLei>9J6MBOOO7BECTDTUZW19</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>628771884.60000002</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Cantor Fitzgerald &amp; Co.</principalName>
            <principalFileNo>8-00201</principalFileNo>
            <principalCrdNo>000000134</principalCrdNo>
            <principalLei>5493004J7H4GCPG6OB62</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>1061892885.71000000</principalTotalPurchaseSale>
          </principalTransaction>
        </principalTransactions>
        <principalAggregatePurchase>21070644578.89000000</principalAggregatePurchase>
        <isBrokerageResearchPayment>N</isBrokerageResearchPayment>
        <mnthlyAvgNetAssets>17640761272.76</mnthlyAvgNetAssets>
        <hasLineOfCredit>N</hasLineOfCredit>
        <isInterfundLending>N</isInterfundLending>
        <isInterfundBorrowing>N</isInterfundBorrowing>
      </managementInvestmentQuestion>
      <managementInvestmentQuestion>
        <mgmtInvFundName>JPMorgan Municipal ETF</mgmtInvFundName>
        <mgmtInvSeriesId>S000063268</mgmtInvSeriesId>
        <mgmtInvLei>549300Q4RKBDH0NJBG14</mgmtInvLei>
        <isFirstFilingByFund>N</isFirstFilingByFund>
        <numAuthorizedClass>0</numAuthorizedClass>
        <numAddedClass>0</numAddedClass>
        <numTerminatedClass>0</numTerminatedClass>
        <sharesOutstandings>
          <sharesOutstanding sharesOutstandingClassName="JPMorgan Municipal ETF" sharesOutstandingClassId="C000205215" sharesOutstandingTickerSymbol="JMUB"/>
        </sharesOutstandings>
        <fundTypes>
          <fundType>Exchange-Traded Fund</fundType>
        </fundTypes>
        <isNonDiversifiedCompany>N</isNonDiversifiedCompany>
        <isForeignSubsidiary>N</isForeignSubsidiary>
        <isFundSecuritiesLending>Y</isFundSecuritiesLending>
        <didFundLendSecurities>N</didFundLendSecurities>
        <securityLendings>
          <securityLending>
            <securitiesAgentName>Citibank N.A.</securitiesAgentName>
            <securitiesAgentLei>E57ODZWZ7FF32TWEFA76</securitiesAgentLei>
            <isSecuritiesAgentAffiliated>N</isSecuritiesAgentAffiliated>
            <securityAgentIdemnity isSecurityAgentIdemnity="Y">
              <idemnityProviders>
                <idemnityProvider idemnityProviderName="N/A" idemnityProviderLei="N/A"/>
              </idemnityProviders>
              <didIndemnificationRights>N</didIndemnificationRights>
            </securityAgentIdemnity>
          </securityLending>
        </securityLendings>
        <collateralManagers>
          <collateralManager collateralManagerName="J.P. Morgan Investment Management Inc." collateralManagerLei="549300W78QHV4XMM6K69" isCollateralManagerAffliliated="N" isCollateralManagerAffliliatedWithFund="Y"/>
        </collateralManagers>
        <paymentToAgentManagers>
          <paymentToAgentManagerType>Revenue sharing split</paymentToAgentManagerType>
          <paymentToAgentManagerType>Cash collateral reinvestment fee</paymentToAgentManagerType>
        </paymentToAgentManagers>
        <avgPortfolioSecuritiesValue>0.00000000</avgPortfolioSecuritiesValue>
        <netIncomeSecuritiesLending>0.00000000</netIncomeSecuritiesLending>
        <relyOnRuleTypes>
          <relyOnRuleType>Rule 32a-4 (17 CFR 270.32a-4)</relyOnRuleType>
          <relyOnRuleType>Rule 10f-3 (17 CFR 270.10f-3)</relyOnRuleType>
          <relyOnRuleType>Rule 12d1-4 (17 CFR 270.12d1-4)</relyOnRuleType>
          <relyOnRuleType>Rule 6c-11 (17 CFR 270.6c-11)</relyOnRuleType>
          <relyOnRuleType>Rule 12d1-1 (17 CFR 270.12d1-1)</relyOnRuleType>
        </relyOnRuleTypes>
        <isExpenseLimitationInPlace>Y</isExpenseLimitationInPlace>
        <isExpenseReducedOrWaived>Y</isExpenseReducedOrWaived>
        <isFeesWaivedRecoupable>N</isFeesWaivedRecoupable>
        <isExpenseWaivedRecoupable>N</isExpenseWaivedRecoupable>
        <investmentAdvisers>
          <investmentAdviser>
            <investmentAdviserName>J.P. Morgan Investment Management Inc.</investmentAdviserName>
            <investmentAdviserFileNo>801-21011</investmentAdviserFileNo>
            <investmentAdviserCrdNo>000107038</investmentAdviserCrdNo>
            <investmentAdviserLei>549300W78QHV4XMM6K69</investmentAdviserLei>
            <investmentAdviserStateCountry investmentAdviserState="US-NY" investmentAdviserCountry="US"/>
            <isInvestmentAdviserHired>N</isInvestmentAdviserHired>
          </investmentAdviser>
        </investmentAdvisers>
        <transferAgents>
          <transferAgent>
            <transferAgentName>JPMorgan Chase Bank, N.A.</transferAgentName>
            <transferAgentFileNo>N/A</transferAgentFileNo>
            <transferAgentLei>7H6GLXDRUGQFU57RNE97</transferAgentLei>
            <transferAgentStateCountry transferAgentState="US-NY" transferAgentCountry="US"/>
            <isTransferAgentAffiliated>Y</isTransferAgentAffiliated>
            <isTransferAgentSubAgent>N</isTransferAgentSubAgent>
          </transferAgent>
        </transferAgents>
        <isTransferAgentHiredOrTerminated>N</isTransferAgentHiredOrTerminated>
        <pricingServices>
          <pricingService>
            <pricingServiceName>ICE Data Pricing &amp; Reference Data, LLC</pricingServiceName>
            <pricingServiceLei>5493000NQ9LYLDBCTL34</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>Bloomberg L.P.</pricingServiceName>
            <pricingServiceLei>549300B56MD0ZC402L06</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>Refinitiv Global Markets Inc.</pricingServiceName>
            <pricingServiceLei>000109120</pricingServiceLei>
            <pricingServiceIdNumberDesc>CRD</pricingServiceIdNumberDesc>
            <pricingServiceStateCountry pricingServiceState="US-MA" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
        </pricingServices>
        <isPricingServiceHiredOrTerminated>N</isPricingServiceHiredOrTerminated>
        <custodians>
          <custodian>
            <custodianName>JPMorgan Chase Bank, N.A.</custodianName>
            <custodianLei>7H6GLXDRUGQFU57RNE97</custodianLei>
            <custodianStateCountry custodianState="US-NY" custodianCountry="US"/>
            <isCustodianAffiliated>Y</isCustodianAffiliated>
            <isSubCustodian>N</isSubCustodian>
            <custodyType>Self - rule 17f-2 (17 CFR 270.17f-2)</custodyType>
          </custodian>
          <custodian>
            <custodianName>BofA Securities, Inc.</custodianName>
            <custodianLei>549300HN4UKV1E2R3U73</custodianLei>
            <custodianStateCountry custodianState="US-NY" custodianCountry="US"/>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Futures commission merchants and commodity clearing organizations - rule 17f-6 (17 CFR 270.17f-6)</custodyType>
          </custodian>
        </custodians>
        <isCustodianHiredOrTerminated>N</isCustodianHiredOrTerminated>
        <isShareholderServiceHiredTerminated>N</isShareholderServiceHiredTerminated>
        <admins>
          <admin>
            <adminName>J.P. Morgan Investment Management Inc.</adminName>
            <adminLei>549300W78QHV4XMM6K69</adminLei>
            <adminStateCountry adminState="US-NY" adminCountry="US"/>
            <isAdminAffiliated>Y</isAdminAffiliated>
            <isAdminSubAdmin>N</isAdminSubAdmin>
          </admin>
          <admin>
            <adminName>JPMorgan Chase Bank, N.A.</adminName>
            <adminLei>7H6GLXDRUGQFU57RNE97</adminLei>
            <adminStateCountry adminState="US-NY" adminCountry="US"/>
            <isAdminAffiliated>Y</isAdminAffiliated>
            <isAdminSubAdmin>Y</isAdminSubAdmin>
          </admin>
        </admins>
        <isAdminHiredOrTerminated>N</isAdminHiredOrTerminated>
        <brokers>
          <broker>
            <brokerName>Goldman Sachs &amp; Co. LLC</brokerName>
            <brokerFileNo>8-00129</brokerFileNo>
            <brokerCrdNo>000000361</brokerCrdNo>
            <brokerLei>FOR8UP27PHTHYVLBNG30</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>72.25000000</grossCommission>
          </broker>
          <broker>
            <brokerName>Barclays Capital, Inc.</brokerName>
            <brokerFileNo>8-41342</brokerFileNo>
            <brokerCrdNo>000019714</brokerCrdNo>
            <brokerLei>AC28XWWI3WIBK2824319</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>14.80000000</grossCommission>
          </broker>
          <broker>
            <brokerName>Citigroup Global Markets Inc.</brokerName>
            <brokerFileNo>8-08177</brokerFileNo>
            <brokerCrdNo>000007059</brokerCrdNo>
            <brokerLei>MBNUM2BPBDO7JBLYG310</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>137.85000000</grossCommission>
          </broker>
        </brokers>
        <aggregateCommission>224.90000000</aggregateCommission>
        <principalTransactions>
          <principalTransaction>
            <principalName>Wells Fargo Securities, LLC</principalName>
            <principalFileNo>8-65876</principalFileNo>
            <principalCrdNo>000126292</principalCrdNo>
            <principalLei>VYVVCKR63DVZZN70PB21</principalLei>
            <principalStateCountry principalState="US-NC" principalCountry="US"/>
            <principalTotalPurchaseSale>4626370.40000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Citigroup Global Markets Inc.</principalName>
            <principalFileNo>8-08177</principalFileNo>
            <principalCrdNo>000007059</principalCrdNo>
            <principalLei>MBNUM2BPBDO7JBLYG310</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>8873478.94999999</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>B. C. Ziegler and Company</principalName>
            <principalFileNo>8-00094</principalFileNo>
            <principalCrdNo>000000061</principalCrdNo>
            <principalLei>549300NLEOFP92P38Q71</principalLei>
            <principalStateCountry principalState="US-IL" principalCountry="US"/>
            <principalTotalPurchaseSale>8655337.30000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Piper Sandler &amp; Co.</principalName>
            <principalFileNo>8-15204</principalFileNo>
            <principalCrdNo>000000665</principalCrdNo>
            <principalLei>549300GRQCWQ3XGH0H10</principalLei>
            <principalStateCountry principalState="US-MN" principalCountry="US"/>
            <principalTotalPurchaseSale>8023545.30000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Morgan Stanley &amp; Co. LLC</principalName>
            <principalFileNo>8-15869</principalFileNo>
            <principalCrdNo>000008209</principalCrdNo>
            <principalLei>9R7GPTSO7KV3UQJZQ078</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>9418681.45</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Keybanc Capital Markets Inc.</principalName>
            <principalFileNo>8-30177</principalFileNo>
            <principalCrdNo>000000566</principalCrdNo>
            <principalLei>2EQWV0180Z211YVAD813</principalLei>
            <principalStateCountry principalState="US-OH" principalCountry="US"/>
            <principalTotalPurchaseSale>4443643.10</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Goldman Sachs &amp; Co. LLC</principalName>
            <principalFileNo>8-00129</principalFileNo>
            <principalCrdNo>000000361</principalCrdNo>
            <principalLei>FOR8UP27PHTHYVLBNG30</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>6444846.85</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>RBC Capital Markets, LLC</principalName>
            <principalFileNo>8-45411</principalFileNo>
            <principalCrdNo>000031194</principalCrdNo>
            <principalLei>549300LCO2FLSSVFFR64</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>5224908.95000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>BofA Securities, Inc.</principalName>
            <principalFileNo>8-69787</principalFileNo>
            <principalCrdNo>000283942</principalCrdNo>
            <principalLei>549300HN4UKV1E2R3U73</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>6044914.50000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Barclays Capital, Inc.</principalName>
            <principalFileNo>8-41342</principalFileNo>
            <principalCrdNo>000019714</principalCrdNo>
            <principalLei>AC28XWWI3WIBK2824319</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>7771866.35</principalTotalPurchaseSale>
          </principalTransaction>
        </principalTransactions>
        <principalAggregatePurchase>102728072.55000000</principalAggregatePurchase>
        <isBrokerageResearchPayment>N</isBrokerageResearchPayment>
        <mnthlyAvgNetAssets>89787480.16</mnthlyAvgNetAssets>
        <hasLineOfCredit>N</hasLineOfCredit>
        <isInterfundLending>N</isInterfundLending>
        <isInterfundBorrowing>N</isInterfundBorrowing>
      </managementInvestmentQuestion>
      <managementInvestmentQuestion>
        <mgmtInvFundName>JPMorgan U.S. Aggregate Bond ETF</mgmtInvFundName>
        <mgmtInvSeriesId>S000063668</mgmtInvSeriesId>
        <mgmtInvLei>549300Y7I30NRICF3S33</mgmtInvLei>
        <isFirstFilingByFund>N</isFirstFilingByFund>
        <numAuthorizedClass>0</numAuthorizedClass>
        <numAddedClass>0</numAddedClass>
        <numTerminatedClass>0</numTerminatedClass>
        <sharesOutstandings>
          <sharesOutstanding sharesOutstandingClassName="JPMorgan U.S. Aggregate Bond ETF" sharesOutstandingClassId="C000206282" sharesOutstandingTickerSymbol="JAGG"/>
        </sharesOutstandings>
        <fundTypes>
          <fundType>Exchange-Traded Fund</fundType>
        </fundTypes>
        <isNonDiversifiedCompany>N</isNonDiversifiedCompany>
        <isForeignSubsidiary>N</isForeignSubsidiary>
        <isFundSecuritiesLending>Y</isFundSecuritiesLending>
        <fundLendSecurities didFundLendSecurities="Y">
          <isFundLiquidated>N</isFundLiquidated>
          <isFundAdverselyImpacted>N</isFundAdverselyImpacted>
        </fundLendSecurities>
        <securityLendings>
          <securityLending>
            <securitiesAgentName>Citibank N.A.</securitiesAgentName>
            <securitiesAgentLei>E57ODZWZ7FF32TWEFA76</securitiesAgentLei>
            <isSecuritiesAgentAffiliated>N</isSecuritiesAgentAffiliated>
            <securityAgentIdemnity isSecurityAgentIdemnity="Y">
              <idemnityProviders>
                <idemnityProvider idemnityProviderName="N/A" idemnityProviderLei="N/A"/>
              </idemnityProviders>
              <didIndemnificationRights>N</didIndemnificationRights>
            </securityAgentIdemnity>
          </securityLending>
        </securityLendings>
        <collateralManagers>
          <collateralManager collateralManagerName="J.P. Morgan Investment Management Inc." collateralManagerLei="549300W78QHV4XMM6K69" isCollateralManagerAffliliated="N" isCollateralManagerAffliliatedWithFund="Y"/>
        </collateralManagers>
        <paymentToAgentManagers>
          <paymentToAgentManagerType>Revenue sharing split</paymentToAgentManagerType>
          <paymentToAgentManagerType>Cash collateral reinvestment fee</paymentToAgentManagerType>
        </paymentToAgentManagers>
        <avgPortfolioSecuritiesValue>10273253.12000000</avgPortfolioSecuritiesValue>
        <netIncomeSecuritiesLending>22763.53000000</netIncomeSecuritiesLending>
        <relyOnRuleTypes>
          <relyOnRuleType>Rule 12d1-1 (17 CFR 270.12d1-1)</relyOnRuleType>
          <relyOnRuleType>Rule 6c-11 (17 CFR 270.6c-11)</relyOnRuleType>
          <relyOnRuleType>Rule 12d1-4 (17 CFR 270.12d1-4)</relyOnRuleType>
          <relyOnRuleType>Rule 32a-4 (17 CFR 270.32a-4)</relyOnRuleType>
        </relyOnRuleTypes>
        <isExpenseLimitationInPlace>Y</isExpenseLimitationInPlace>
        <isExpenseReducedOrWaived>Y</isExpenseReducedOrWaived>
        <isFeesWaivedRecoupable>N</isFeesWaivedRecoupable>
        <isExpenseWaivedRecoupable>N</isExpenseWaivedRecoupable>
        <investmentAdvisers>
          <investmentAdviser>
            <investmentAdviserName>J.P. Morgan Investment Management Inc.</investmentAdviserName>
            <investmentAdviserFileNo>801-21011</investmentAdviserFileNo>
            <investmentAdviserCrdNo>000107038</investmentAdviserCrdNo>
            <investmentAdviserLei>549300W78QHV4XMM6K69</investmentAdviserLei>
            <investmentAdviserStateCountry investmentAdviserState="US-NY" investmentAdviserCountry="US"/>
            <isInvestmentAdviserHired>N</isInvestmentAdviserHired>
          </investmentAdviser>
        </investmentAdvisers>
        <transferAgents>
          <transferAgent>
            <transferAgentName>JPMorgan Chase Bank, N.A.</transferAgentName>
            <transferAgentFileNo>N/A</transferAgentFileNo>
            <transferAgentLei>7H6GLXDRUGQFU57RNE97</transferAgentLei>
            <transferAgentStateCountry transferAgentState="US-NY" transferAgentCountry="US"/>
            <isTransferAgentAffiliated>Y</isTransferAgentAffiliated>
            <isTransferAgentSubAgent>N</isTransferAgentSubAgent>
          </transferAgent>
        </transferAgents>
        <isTransferAgentHiredOrTerminated>N</isTransferAgentHiredOrTerminated>
        <pricingServices>
          <pricingService>
            <pricingServiceName>Bloomberg L.P.</pricingServiceName>
            <pricingServiceLei>549300B56MD0ZC402L06</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>ICE Data Pricing &amp; Reference Data, LLC</pricingServiceName>
            <pricingServiceLei>5493000NQ9LYLDBCTL34</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
        </pricingServices>
        <isPricingServiceHiredOrTerminated>N</isPricingServiceHiredOrTerminated>
        <custodians>
          <custodian>
            <custodianName>Euroclear</custodianName>
            <custodianLei>549300OZ46BRLZ8Y6F65</custodianLei>
            <custodianCountry>BE</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign securities depository - rule 17f-7 (17 CFR 270.17f-7)</custodyType>
          </custodian>
          <custodian>
            <custodianName>JPMorgan Chase Bank, N.A.</custodianName>
            <custodianLei>7H6GLXDRUGQFU57RNE97</custodianLei>
            <custodianStateCountry custodianState="US-NY" custodianCountry="US"/>
            <isCustodianAffiliated>Y</isCustodianAffiliated>
            <isSubCustodian>N</isSubCustodian>
            <custodyType>Self - rule 17f-2 (17 CFR 270.17f-2)</custodyType>
          </custodian>
        </custodians>
        <isCustodianHiredOrTerminated>N</isCustodianHiredOrTerminated>
        <isShareholderServiceHiredTerminated>N</isShareholderServiceHiredTerminated>
        <admins>
          <admin>
            <adminName>J.P. Morgan Investment Management Inc.</adminName>
            <adminLei>549300W78QHV4XMM6K69</adminLei>
            <adminStateCountry adminState="US-NY" adminCountry="US"/>
            <isAdminAffiliated>Y</isAdminAffiliated>
            <isAdminSubAdmin>N</isAdminSubAdmin>
          </admin>
          <admin>
            <adminName>JPMorgan Chase Bank, N.A.</adminName>
            <adminLei>7H6GLXDRUGQFU57RNE97</adminLei>
            <adminStateCountry adminState="US-NY" adminCountry="US"/>
            <isAdminAffiliated>Y</isAdminAffiliated>
            <isAdminSubAdmin>Y</isAdminSubAdmin>
          </admin>
        </admins>
        <isAdminHiredOrTerminated>N</isAdminHiredOrTerminated>
        <aggregateCommission>0.00000000</aggregateCommission>
        <principalTransactions>
          <principalTransaction>
            <principalName>Goldman Sachs &amp; Co. LLC</principalName>
            <principalFileNo>8-00129</principalFileNo>
            <principalCrdNo>000000361</principalCrdNo>
            <principalLei>FOR8UP27PHTHYVLBNG30</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>469439369.88</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Barclays Capital, Inc.</principalName>
            <principalFileNo>8-41342</principalFileNo>
            <principalCrdNo>000019714</principalCrdNo>
            <principalLei>AC28XWWI3WIBK2824319</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>65317588.99</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Morgan Stanley &amp; Co. LLC</principalName>
            <principalFileNo>8-15869</principalFileNo>
            <principalCrdNo>000008209</principalCrdNo>
            <principalLei>9R7GPTSO7KV3UQJZQ078</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>245170801.11</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>BofA Securities, Inc.</principalName>
            <principalFileNo>8-69787</principalFileNo>
            <principalCrdNo>000283942</principalCrdNo>
            <principalLei>549300HN4UKV1E2R3U73</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>417021611.43</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Citigroup Global Markets Inc.</principalName>
            <principalFileNo>8-08177</principalFileNo>
            <principalCrdNo>000007059</principalCrdNo>
            <principalLei>MBNUM2BPBDO7JBLYG310</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>226329977.96</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Jane Street Capital, LLC</principalName>
            <principalFileNo>8-52275</principalFileNo>
            <principalCrdNo>000103782</principalCrdNo>
            <principalLei>549300ZM16HMPEPNV857</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>287733477.51</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Jane Street Execution Services, LLC</principalName>
            <principalFileNo>8-69254</principalFileNo>
            <principalCrdNo>000167280</principalCrdNo>
            <principalLei>549300HXJLXCPDWAH070</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>45108735.76</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>MarketAxess Corporation</principalName>
            <principalFileNo>8-50727</principalFileNo>
            <principalCrdNo>000044542</principalCrdNo>
            <principalLei>GPSMMRI21JE7ZCVYF972</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>47795051.15</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Wells Fargo Securities, LLC</principalName>
            <principalFileNo>8-65876</principalFileNo>
            <principalCrdNo>000126292</principalCrdNo>
            <principalLei>VYVVCKR63DVZZN70PB21</principalLei>
            <principalStateCountry principalState="US-NC" principalCountry="US"/>
            <principalTotalPurchaseSale>164925406.45</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Credit Suisse Securities (USA) LLC</principalName>
            <principalFileNo>8-00422</principalFileNo>
            <principalCrdNo>000000816</principalCrdNo>
            <principalLei>1V8Y6QCX6YMJ2OELII46</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>104031082.46</principalTotalPurchaseSale>
          </principalTransaction>
        </principalTransactions>
        <principalAggregatePurchase>2408034798.60</principalAggregatePurchase>
        <isBrokerageResearchPayment>N</isBrokerageResearchPayment>
        <mnthlyAvgNetAssets>1049758437.64</mnthlyAvgNetAssets>
        <hasLineOfCredit>N</hasLineOfCredit>
        <isInterfundLending>N</isInterfundLending>
        <isInterfundBorrowing>N</isInterfundBorrowing>
      </managementInvestmentQuestion>
      <managementInvestmentQuestion>
        <mgmtInvFundName>JPMorgan USD Emerging Markets Sovereign Bond ETF</mgmtInvFundName>
        <mgmtInvSeriesId>S000060180</mgmtInvSeriesId>
        <mgmtInvLei>549300POFR35HUEWVC10</mgmtInvLei>
        <isFirstFilingByFund>N</isFirstFilingByFund>
        <numAuthorizedClass>0</numAuthorizedClass>
        <numAddedClass>0</numAddedClass>
        <numTerminatedClass>0</numTerminatedClass>
        <sharesOutstandings>
          <sharesOutstanding sharesOutstandingClassName="JPMorgan USD Emerging Markets Sovereign Bond ETF" sharesOutstandingClassId="C000196949" sharesOutstandingTickerSymbol="JPMB"/>
        </sharesOutstandings>
        <fundTypes>
          <fundType>Exchange-Traded Fund</fundType>
          <indexFundInfo fundType="Index Fund">
            <isIndexFundAffiliated>Y</isIndexFundAffiliated>
            <isIndexFundExclusive>Y</isIndexFundExclusive>
            <indexFundReturnDiffBeforeExpense>-0.01</indexFundReturnDiffBeforeExpense>
            <indexFundReturnDiffAfterExpense>-0.37</indexFundReturnDiffAfterExpense>
            <indexFundReturnDailyStdevBeforeExpense>0.00709176</indexFundReturnDailyStdevBeforeExpense>
            <indexFundReturnDailyStdevAfterExpense>0.00707304</indexFundReturnDailyStdevAfterExpense>
          </indexFundInfo>
        </fundTypes>
        <isNonDiversifiedCompany>N</isNonDiversifiedCompany>
        <isForeignSubsidiary>N</isForeignSubsidiary>
        <isFundSecuritiesLending>Y</isFundSecuritiesLending>
        <fundLendSecurities didFundLendSecurities="Y">
          <isFundLiquidated>N</isFundLiquidated>
          <isFundAdverselyImpacted>N</isFundAdverselyImpacted>
        </fundLendSecurities>
        <securityLendings>
          <securityLending>
            <securitiesAgentName>Citibank N.A.</securitiesAgentName>
            <securitiesAgentLei>E57ODZWZ7FF32TWEFA76</securitiesAgentLei>
            <isSecuritiesAgentAffiliated>N</isSecuritiesAgentAffiliated>
            <securityAgentIdemnity isSecurityAgentIdemnity="Y">
              <idemnityProviders>
                <idemnityProvider idemnityProviderName="N/A" idemnityProviderLei="N/A"/>
              </idemnityProviders>
              <didIndemnificationRights>N</didIndemnificationRights>
            </securityAgentIdemnity>
          </securityLending>
        </securityLendings>
        <collateralManagers>
          <collateralManager collateralManagerName="J.P. Morgan Investment Management Inc." collateralManagerLei="549300W78QHV4XMM6K69" isCollateralManagerAffliliated="N" isCollateralManagerAffliliatedWithFund="Y"/>
        </collateralManagers>
        <paymentToAgentManagers>
          <paymentToAgentManagerType>Cash collateral reinvestment fee</paymentToAgentManagerType>
          <paymentToAgentManagerType>Revenue sharing split</paymentToAgentManagerType>
        </paymentToAgentManagers>
        <avgPortfolioSecuritiesValue>1147778.71000000</avgPortfolioSecuritiesValue>
        <netIncomeSecuritiesLending>3982.94000000</netIncomeSecuritiesLending>
        <relyOnRuleTypes>
          <relyOnRuleType>Rule 12d1-1 (17 CFR 270.12d1-1)</relyOnRuleType>
          <relyOnRuleType>Rule 6c-11 (17 CFR 270.6c-11)</relyOnRuleType>
          <relyOnRuleType>Rule 32a-4 (17 CFR 270.32a-4)</relyOnRuleType>
          <relyOnRuleType>Rule 12d1-4 (17 CFR 270.12d1-4)</relyOnRuleType>
        </relyOnRuleTypes>
        <isExpenseLimitationInPlace>Y</isExpenseLimitationInPlace>
        <isExpenseReducedOrWaived>Y</isExpenseReducedOrWaived>
        <isFeesWaivedRecoupable>N</isFeesWaivedRecoupable>
        <isExpenseWaivedRecoupable>N</isExpenseWaivedRecoupable>
        <investmentAdvisers>
          <investmentAdviser>
            <investmentAdviserName>J.P. Morgan Investment Management Inc.</investmentAdviserName>
            <investmentAdviserFileNo>801-21011</investmentAdviserFileNo>
            <investmentAdviserCrdNo>000107038</investmentAdviserCrdNo>
            <investmentAdviserLei>549300W78QHV4XMM6K69</investmentAdviserLei>
            <investmentAdviserStateCountry investmentAdviserState="US-NY" investmentAdviserCountry="US"/>
            <isInvestmentAdviserHired>N</isInvestmentAdviserHired>
          </investmentAdviser>
        </investmentAdvisers>
        <transferAgents>
          <transferAgent>
            <transferAgentName>JPMorgan Chase Bank, N.A.</transferAgentName>
            <transferAgentFileNo>N/A</transferAgentFileNo>
            <transferAgentLei>7H6GLXDRUGQFU57RNE97</transferAgentLei>
            <transferAgentStateCountry transferAgentState="US-NY" transferAgentCountry="US"/>
            <isTransferAgentAffiliated>Y</isTransferAgentAffiliated>
            <isTransferAgentSubAgent>N</isTransferAgentSubAgent>
          </transferAgent>
        </transferAgents>
        <isTransferAgentHiredOrTerminated>N</isTransferAgentHiredOrTerminated>
        <pricingServices>
          <pricingService>
            <pricingServiceName>PricingDirect Inc.</pricingServiceName>
            <pricingServiceLei>549300WIC0TOJ7N7GD54</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>ICE Data Pricing &amp; Reference Data, LLC</pricingServiceName>
            <pricingServiceLei>5493000NQ9LYLDBCTL34</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
        </pricingServices>
        <isPricingServiceHiredOrTerminated>N</isPricingServiceHiredOrTerminated>
        <custodians>
          <custodian>
            <custodianName>Euroclear</custodianName>
            <custodianLei>549300OZ46BRLZ8Y6F65</custodianLei>
            <custodianCountry>BE</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign securities depository - rule 17f-7 (17 CFR 270.17f-7)</custodyType>
          </custodian>
          <custodian>
            <custodianName>JPMorgan Chase Bank, N.A.</custodianName>
            <custodianLei>7H6GLXDRUGQFU57RNE97</custodianLei>
            <custodianStateCountry custodianState="US-NY" custodianCountry="US"/>
            <isCustodianAffiliated>Y</isCustodianAffiliated>
            <isSubCustodian>N</isSubCustodian>
            <custodyType>Self - rule 17f-2 (17 CFR 270.17f-2)</custodyType>
          </custodian>
        </custodians>
        <isCustodianHiredOrTerminated>N</isCustodianHiredOrTerminated>
        <isShareholderServiceHiredTerminated>N</isShareholderServiceHiredTerminated>
        <admins>
          <admin>
            <adminName>J.P. Morgan Investment Management Inc.</adminName>
            <adminLei>549300W78QHV4XMM6K69</adminLei>
            <adminStateCountry adminState="US-NY" adminCountry="US"/>
            <isAdminAffiliated>Y</isAdminAffiliated>
            <isAdminSubAdmin>N</isAdminSubAdmin>
          </admin>
          <admin>
            <adminName>JPMorgan Chase Bank, N.A.</adminName>
            <adminLei>7H6GLXDRUGQFU57RNE97</adminLei>
            <adminStateCountry adminState="US-NY" adminCountry="US"/>
            <isAdminAffiliated>Y</isAdminAffiliated>
            <isAdminSubAdmin>Y</isAdminSubAdmin>
          </admin>
        </admins>
        <isAdminHiredOrTerminated>N</isAdminHiredOrTerminated>
        <aggregateCommission>0.00000000</aggregateCommission>
        <principalTransactions>
          <principalTransaction>
            <principalName>Barclays Capital, Inc.</principalName>
            <principalFileNo>8-41342</principalFileNo>
            <principalCrdNo>000019714</principalCrdNo>
            <principalLei>AC28XWWI3WIBK2824319</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>17517534.25</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Morgan Stanley &amp; Co. LLC</principalName>
            <principalFileNo>8-15869</principalFileNo>
            <principalCrdNo>000008209</principalCrdNo>
            <principalLei>9R7GPTSO7KV3UQJZQ078</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>2958955.54</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>HSBC Securities (USA) Inc.</principalName>
            <principalFileNo>8-41562</principalFileNo>
            <principalCrdNo>000019585</principalCrdNo>
            <principalLei>CYYGQCGNHMHPSMRL3R97</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>3403826.53</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>BNP Paribas Securities Corp.</principalName>
            <principalFileNo>8-32682</principalFileNo>
            <principalCrdNo>000015794</principalCrdNo>
            <principalLei>RCNB6OTYUAMMP879YW96</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>2377687.82</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Jefferies LLC</principalName>
            <principalFileNo>8-15074</principalFileNo>
            <principalCrdNo>000002347</principalCrdNo>
            <principalLei>58PU97L1C0WSRCWADL48</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>7750938.11</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Citigroup Global Markets Inc.</principalName>
            <principalFileNo>8-08177</principalFileNo>
            <principalCrdNo>000007059</principalCrdNo>
            <principalLei>MBNUM2BPBDO7JBLYG310</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>8896344.49</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Merrill Lynch, Pierce, Fenner &amp; Smith Inc.</principalName>
            <principalFileNo>8-07221</principalFileNo>
            <principalCrdNo>000007691</principalCrdNo>
            <principalLei>8NAV47T0Y26Q87Y0QP81</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>3600884.45</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>J.P. Morgan Securities LLC</principalName>
            <principalFileNo>8-35008</principalFileNo>
            <principalCrdNo>000000079</principalCrdNo>
            <principalLei>ZBUT11V806EZRVTWT807</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>1801182.25</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>BofA Securities, Inc.</principalName>
            <principalFileNo>8-69787</principalFileNo>
            <principalCrdNo>000283942</principalCrdNo>
            <principalLei>549300HN4UKV1E2R3U73</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>21073875.17</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Jane Street Capital, LLC</principalName>
            <principalFileNo>8-52275</principalFileNo>
            <principalCrdNo>000103782</principalCrdNo>
            <principalLei>549300ZM16HMPEPNV857</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>55390190.01</principalTotalPurchaseSale>
          </principalTransaction>
        </principalTransactions>
        <principalAggregatePurchase>137681706.65</principalAggregatePurchase>
        <isBrokerageResearchPayment>N</isBrokerageResearchPayment>
        <mnthlyAvgNetAssets>76742346.99</mnthlyAvgNetAssets>
        <hasLineOfCredit>N</hasLineOfCredit>
        <isInterfundLending>N</isInterfundLending>
        <isInterfundBorrowing>N</isInterfundBorrowing>
      </managementInvestmentQuestion>
      <managementInvestmentQuestion>
        <mgmtInvFundName>JPMorgan Core Plus Bond ETF</mgmtInvFundName>
        <mgmtInvSeriesId>S000063265</mgmtInvSeriesId>
        <mgmtInvLei>549300A4I21YDY6YQ739</mgmtInvLei>
        <isFirstFilingByFund>N</isFirstFilingByFund>
        <numAuthorizedClass>0</numAuthorizedClass>
        <numAddedClass>0</numAddedClass>
        <numTerminatedClass>0</numTerminatedClass>
        <sharesOutstandings>
          <sharesOutstanding sharesOutstandingClassName="JPMorgan Core Plus Bond ETF" sharesOutstandingClassId="C000205212" sharesOutstandingTickerSymbol="JCPB"/>
        </sharesOutstandings>
        <fundTypes>
          <fundType>Exchange-Traded Fund</fundType>
        </fundTypes>
        <isNonDiversifiedCompany>N</isNonDiversifiedCompany>
        <isForeignSubsidiary>N</isForeignSubsidiary>
        <isFundSecuritiesLending>Y</isFundSecuritiesLending>
        <didFundLendSecurities>N</didFundLendSecurities>
        <securityLendings>
          <securityLending>
            <securitiesAgentName>Citibank N.A.</securitiesAgentName>
            <securitiesAgentLei>E57ODZWZ7FF32TWEFA76</securitiesAgentLei>
            <isSecuritiesAgentAffiliated>N</isSecuritiesAgentAffiliated>
            <securityAgentIdemnity isSecurityAgentIdemnity="Y">
              <idemnityProviders>
                <idemnityProvider idemnityProviderName="N/A" idemnityProviderLei="N/A"/>
              </idemnityProviders>
              <didIndemnificationRights>N</didIndemnificationRights>
            </securityAgentIdemnity>
          </securityLending>
        </securityLendings>
        <collateralManagers>
          <collateralManager collateralManagerName="J.P. Morgan Investment Management Inc." collateralManagerLei="549300W78QHV4XMM6K69" isCollateralManagerAffliliated="N" isCollateralManagerAffliliatedWithFund="Y"/>
        </collateralManagers>
        <paymentToAgentManagers>
          <paymentToAgentManagerType>Revenue sharing split</paymentToAgentManagerType>
          <paymentToAgentManagerType>Cash collateral reinvestment fee</paymentToAgentManagerType>
        </paymentToAgentManagers>
        <avgPortfolioSecuritiesValue>0.00000000</avgPortfolioSecuritiesValue>
        <netIncomeSecuritiesLending>0.00000000</netIncomeSecuritiesLending>
        <relyOnRuleTypes>
          <relyOnRuleType>Rule 12d1-1 (17 CFR 270.12d1-1)</relyOnRuleType>
          <relyOnRuleType>Rule 32a-4 (17 CFR 270.32a-4)</relyOnRuleType>
          <relyOnRuleType>Rule 6c-11 (17 CFR 270.6c-11)</relyOnRuleType>
          <relyOnRuleType>Rule 10f-3 (17 CFR 270.10f-3)</relyOnRuleType>
          <relyOnRuleType>Rule 12d1-4 (17 CFR 270.12d1-4)</relyOnRuleType>
        </relyOnRuleTypes>
        <isExpenseLimitationInPlace>Y</isExpenseLimitationInPlace>
        <isExpenseReducedOrWaived>Y</isExpenseReducedOrWaived>
        <isFeesWaivedRecoupable>N</isFeesWaivedRecoupable>
        <isExpenseWaivedRecoupable>N</isExpenseWaivedRecoupable>
        <investmentAdvisers>
          <investmentAdviser>
            <investmentAdviserName>J.P. Morgan Investment Management Inc.</investmentAdviserName>
            <investmentAdviserFileNo>801-21011</investmentAdviserFileNo>
            <investmentAdviserCrdNo>000107038</investmentAdviserCrdNo>
            <investmentAdviserLei>549300W78QHV4XMM6K69</investmentAdviserLei>
            <investmentAdviserStateCountry investmentAdviserState="US-NY" investmentAdviserCountry="US"/>
            <isInvestmentAdviserHired>N</isInvestmentAdviserHired>
          </investmentAdviser>
        </investmentAdvisers>
        <transferAgents>
          <transferAgent>
            <transferAgentName>JPMorgan Chase Bank, N.A.</transferAgentName>
            <transferAgentFileNo>N/A</transferAgentFileNo>
            <transferAgentLei>7H6GLXDRUGQFU57RNE97</transferAgentLei>
            <transferAgentStateCountry transferAgentState="US-NY" transferAgentCountry="US"/>
            <isTransferAgentAffiliated>Y</isTransferAgentAffiliated>
            <isTransferAgentSubAgent>N</isTransferAgentSubAgent>
          </transferAgent>
        </transferAgents>
        <isTransferAgentHiredOrTerminated>N</isTransferAgentHiredOrTerminated>
        <pricingServices>
          <pricingService>
            <pricingServiceName>PricingDirect Inc.</pricingServiceName>
            <pricingServiceLei>549300WIC0TOJ7N7GD54</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>ICE Data Pricing &amp; Reference Data, LLC</pricingServiceName>
            <pricingServiceLei>5493000NQ9LYLDBCTL34</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>Refinitiv Global Markets Inc.</pricingServiceName>
            <pricingServiceLei>000109120</pricingServiceLei>
            <pricingServiceIdNumberDesc>CRD</pricingServiceIdNumberDesc>
            <pricingServiceStateCountry pricingServiceState="US-MA" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>Bloomberg L.P.</pricingServiceName>
            <pricingServiceLei>549300B56MD0ZC402L06</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
        </pricingServices>
        <isPricingServiceHiredOrTerminated>N</isPricingServiceHiredOrTerminated>
        <custodians>
          <custodian>
            <custodianName>Standard Chartered Bank Zambia Plc</custodianName>
            <custodianLei>549300247QDZHDI30A83</custodianLei>
            <custodianCountry>ZM</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>Standard Bank Namibia Limited</custodianName>
            <custodianLei>254900K6TJFDYKSQWV49</custodianLei>
            <custodianCountry>NA</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>Standard Chartered Bank Korea Limited</custodianName>
            <custodianLei>NUXTG47HHHM1K2L0SG39</custodianLei>
            <custodianCountry>KR</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>JPMorgan Chase Bank, N.A.</custodianName>
            <custodianLei>7H6GLXDRUGQFU57RNE97</custodianLei>
            <custodianCountry>AU</custodianCountry>
            <isCustodianAffiliated>Y</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>Citibank, N.A.</custodianName>
            <custodianLei>E57ODZWZ7FF32TWEFA76</custodianLei>
            <custodianCountry>EG</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>BNP Paribas Securities Services S.C.A.</custodianName>
            <custodianLei>549300WCGB70D06XZS54</custodianLei>
            <custodianCountry>PT</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>HSBC Bank (China) Company Limited</custodianName>
            <custodianLei>2CZOJRADNJXBLT55G526</custodianLei>
            <custodianCountry>CN</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>The Hongkong and Shanghai Banking Corporation Limited</custodianName>
            <custodianLei>2HI3YI5320L3RW6NJ957</custodianLei>
            <custodianCountry>PH</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>DBS Bank Ltd</custodianName>
            <custodianLei>ATUEL7OJR5057F2PV266</custodianLei>
            <custodianCountry>SG</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>Standard Chartered Bank (Thai) Public Company Limited</custodianName>
            <custodianLei>549300O1LQYCQ7G1IM57</custodianLei>
            <custodianCountry>TH</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>PT Bank HSBC Indonesia</custodianName>
            <custodianLei>213800HW5IDIRLWH1203</custodianLei>
            <custodianCountry>ID</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>Bank Handlowy w. Warszawie S.A.</custodianName>
            <custodianLei>XLEZHWWOI4HFQDGL4793</custodianLei>
            <custodianCountry>PL</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>Citibank Europe plc</custodianName>
            <custodianLei>N1FBEDJ5J41VKZLO2475</custodianLei>
            <custodianCountry>RO</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>J.P. Morgan Bank Luxembourg S.A.</custodianName>
            <custodianLei>7W1GMC6J4KGLBBUSYP52</custodianLei>
            <custodianCountry>FR</custodianCountry>
            <isCustodianAffiliated>Y</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>JPMorgan Chase Bank, N.A.</custodianName>
            <custodianLei>7H6GLXDRUGQFU57RNE97</custodianLei>
            <custodianStateCountry custodianState="US-NY" custodianCountry="US"/>
            <isCustodianAffiliated>Y</isCustodianAffiliated>
            <isSubCustodian>N</isSubCustodian>
            <custodyType>Self - rule 17f-2 (17 CFR 270.17f-2)</custodyType>
          </custodian>
          <custodian>
            <custodianName>JPMorgan Chase Bank, N.A.</custodianName>
            <custodianLei>7H6GLXDRUGQFU57RNE97</custodianLei>
            <custodianCountry>TW</custodianCountry>
            <isCustodianAffiliated>Y</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>SEB FINLAND</custodianName>
            <custodianLei>F3JS33DEI6XQ4ZBPTN86</custodianLei>
            <custodianCountry>FI</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>FirstRand Bank Limited</custodianName>
            <custodianLei>ZAYQDKTCATIXF9OQY690</custodianLei>
            <custodianCountry>ZA</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>HSBC France Athens Branch</custodianName>
            <custodianLei>MP6I5ZYZBEU3UXPYFY54</custodianLei>
            <custodianCountry>GR</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>JSC Citibank Kazakhstan</custodianName>
            <custodianLei>95XXGORQK31JZP82OG22</custodianLei>
            <custodianCountry>KZ</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>Citibank A.S.</custodianName>
            <custodianLei>CWZ8NZDH5SKY12Q4US31</custodianLei>
            <custodianCountry>TR</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>Stanbic IBTC Bank Plc</custodianName>
            <custodianLei>029200098C3K8BI2D551</custodianLei>
            <custodianCountry>NG</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>Standard Chartered Bank Kenya Limited</custodianName>
            <custodianLei>549300RBHWW5EJIRG629</custodianLei>
            <custodianCountry>KE</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>HSBC Bank Malaysia Berhad</custodianName>
            <custodianLei>P3RPN9OJFCXUPJWB1Q09</custodianLei>
            <custodianCountry>MY</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>HSBC Bank Argentina S.A.</custodianName>
            <custodianLei>549300K52NF2S4SQDO82</custodianLei>
            <custodianCountry>AR</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>Deutsche Bank AG</custodianName>
            <custodianLei>7LTWFZYICNSX8D621K86</custodianLei>
            <custodianCountry>DE</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>HSBC France Athens Branch</custodianName>
            <custodianLei>MP6I5ZYZBEU3UXPYFY54</custodianLei>
            <custodianCountry>CY</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>JPMorgan Chase Bank, N.A.</custodianName>
            <custodianLei>7H6GLXDRUGQFU57RNE97</custodianLei>
            <custodianCountry>HK</custodianCountry>
            <isCustodianAffiliated>Y</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>Skandinaviska Enskilda Banken AB</custodianName>
            <custodianLei>F3JS33DEI6XQ4ZBPTN86</custodianLei>
            <custodianCountry>NO</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>Royal Bank of Canada</custodianName>
            <custodianLei>ES7IP3U3RHIGC71XBU11</custodianLei>
            <custodianCountry>CA</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>Bank Leumi le-Israel B.M.</custodianName>
            <custodianLei>7JDSZWRGUQY2DSTWCR57</custodianLei>
            <custodianCountry>IL</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>UBS Switzerland AG</custodianName>
            <custodianLei>549300WOIFUSNYH0FL22</custodianLei>
            <custodianCountry>CH</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>Banco Nacional de Mexico, S.A.</custodianName>
            <custodianLei>2SFFM4FUIE05S37WFU55</custodianLei>
            <custodianCountry>MX</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>Privredna banka Zagreb d.d.</custodianName>
            <custodianLei>549300ZHFZ4CSK7VS460</custodianLei>
            <custodianCountry>HR</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>Deutsche Bank AG</custodianName>
            <custodianLei>7LTWFZYICNSX8D621K86</custodianLei>
            <custodianCountry>HU</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>Banco Santander Chile</custodianName>
            <custodianLei>3YJP8HORPAEXJ80D6368</custodianLei>
            <custodianCountry>CL</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>JPMorgan Chase Bank, N.A.</custodianName>
            <custodianLei>7H6GLXDRUGQFU57RNE97</custodianLei>
            <custodianCountry>NZ</custodianCountry>
            <isCustodianAffiliated>Y</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>Skandinaviska Enskilda Banken AB</custodianName>
            <custodianLei>F3JS33DEI6XQ4ZBPTN86</custodianLei>
            <custodianCountry>DK</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>J.P. Morgan Bank Luxembourg S.A.</custodianName>
            <custodianLei>7W1GMC6J4KGLBBUSYP52</custodianLei>
            <custodianCountry>BE</custodianCountry>
            <isCustodianAffiliated>Y</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>J.P. Morgan Bank Luxembourg S.A.</custodianName>
            <custodianLei>7W1GMC6J4KGLBBUSYP52</custodianLei>
            <custodianCountry>NL</custodianCountry>
            <isCustodianAffiliated>Y</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>Citibank del Peru S.A.</custodianName>
            <custodianLei>MYTK5NHHP1G8TVFGT193</custodianLei>
            <custodianCountry>PE</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>Santander Securities Services, S.A.</custodianName>
            <custodianLei>95980020140005970915</custodianLei>
            <custodianCountry>ES</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>Mizuho Bank, Ltd.</custodianName>
            <custodianLei>RB0PEZSDGCO3JS6CEU02</custodianLei>
            <custodianCountry>JP</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>Cititrust Colombia S.A.</custodianName>
            <custodianLei>549300242J3IJCOSGI49</custodianLei>
            <custodianCountry>CO</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>J.P. Morgan S.A. DTVM</custodianName>
            <custodianLei>5493001LS7J56NZZ3G07</custodianLei>
            <custodianCountry>BR</custodianCountry>
            <isCustodianAffiliated>Y</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>UniCredit Bank Austria AG</custodianName>
            <custodianLei>D1HEB8VEU6D9M8ZUXG17</custodianLei>
            <custodianCountry>AT</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>Skandinaviska Enskilda Banken AB</custodianName>
            <custodianLei>F3JS33DEI6XQ4ZBPTN86</custodianLei>
            <custodianCountry>SE</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>BNP Paribas Securities Services S.C.A.</custodianName>
            <custodianLei>549300WCGB70D06XZS54</custodianLei>
            <custodianCountry>IT</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>JPMorgan Chase Bank, N.A.</custodianName>
            <custodianLei>7H6GLXDRUGQFU57RNE97</custodianLei>
            <custodianCountry>GB</custodianCountry>
            <isCustodianAffiliated>Y</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>Euroclear</custodianName>
            <custodianLei>549300OZ46BRLZ8Y6F65</custodianLei>
            <custodianCountry>BE</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign securities depository - rule 17f-7 (17 CFR 270.17f-7)</custodyType>
          </custodian>
          <custodian>
            <custodianName>UniCredit Bank Czech Republic and Slovakia, a.s.</custodianName>
            <custodianLei>KR6LSKV3BTSJRD41IF75</custodianLei>
            <custodianCountry>CZ</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>UniCredit Bank Czech Republic and Slovakia, a.s.</custodianName>
            <custodianLei>KR6LSKV3BTSJRD41IF75</custodianLei>
            <custodianCountry>SK</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
        </custodians>
        <isCustodianHiredOrTerminated>N</isCustodianHiredOrTerminated>
        <isShareholderServiceHiredTerminated>N</isShareholderServiceHiredTerminated>
        <admins>
          <admin>
            <adminName>JPMorgan Chase Bank, N.A.</adminName>
            <adminLei>7H6GLXDRUGQFU57RNE97</adminLei>
            <adminStateCountry adminState="US-NY" adminCountry="US"/>
            <isAdminAffiliated>Y</isAdminAffiliated>
            <isAdminSubAdmin>Y</isAdminSubAdmin>
          </admin>
          <admin>
            <adminName>J.P. Morgan Investment Management Inc.</adminName>
            <adminLei>549300W78QHV4XMM6K69</adminLei>
            <adminStateCountry adminState="US-NY" adminCountry="US"/>
            <isAdminAffiliated>Y</isAdminAffiliated>
            <isAdminSubAdmin>N</isAdminSubAdmin>
          </admin>
        </admins>
        <isAdminHiredOrTerminated>N</isAdminHiredOrTerminated>
        <brokers>
          <broker>
            <brokerName>Morgan Stanley &amp; Co. LLC</brokerName>
            <brokerFileNo>8-15869</brokerFileNo>
            <brokerCrdNo>000008209</brokerCrdNo>
            <brokerLei>9R7GPTSO7KV3UQJZQ078</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>54.50000000</grossCommission>
          </broker>
          <broker>
            <brokerName>Goldman Sachs &amp; Co. LLC</brokerName>
            <brokerFileNo>8-00129</brokerFileNo>
            <brokerCrdNo>000000361</brokerCrdNo>
            <brokerLei>FOR8UP27PHTHYVLBNG30</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>968.10000000</grossCommission>
          </broker>
          <broker>
            <brokerName>Barclays Capital, Inc.</brokerName>
            <brokerFileNo>8-41342</brokerFileNo>
            <brokerCrdNo>000019714</brokerCrdNo>
            <brokerLei>AC28XWWI3WIBK2824319</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>1516.04000000</grossCommission>
          </broker>
          <broker>
            <brokerName>BofA Securities, Inc.</brokerName>
            <brokerFileNo>8-69787</brokerFileNo>
            <brokerCrdNo>000283942</brokerCrdNo>
            <brokerLei>549300HN4UKV1E2R3U73</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>210.05000000</grossCommission>
          </broker>
          <broker>
            <brokerName>Deutsche Bank Securities Inc.</brokerName>
            <brokerFileNo>8-17822</brokerFileNo>
            <brokerCrdNo>000002525</brokerCrdNo>
            <brokerLei>9J6MBOOO7BECTDTUZW19</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>142.85000000</grossCommission>
          </broker>
          <broker>
            <brokerName>Citigroup Global Markets Inc.</brokerName>
            <brokerFileNo>8-08177</brokerFileNo>
            <brokerCrdNo>000007059</brokerCrdNo>
            <brokerLei>MBNUM2BPBDO7JBLYG310</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>1782.30000000</grossCommission>
          </broker>
        </brokers>
        <aggregateCommission>4673.84000000</aggregateCommission>
        <principalTransactions>
          <principalTransaction>
            <principalName>BOK Financial Securities, Inc.</principalName>
            <principalFileNo>8-35381</principalFileNo>
            <principalCrdNo>000017530</principalCrdNo>
            <principalLei>5493008UZFTI4G7UQ733</principalLei>
            <principalStateCountry principalState="US-OK" principalCountry="US"/>
            <principalTotalPurchaseSale>20803189.35000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Morgan Stanley &amp; Co. LLC</principalName>
            <principalFileNo>8-15869</principalFileNo>
            <principalCrdNo>000008209</principalCrdNo>
            <principalLei>9R7GPTSO7KV3UQJZQ078</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>46530837.79</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Goldman Sachs &amp; Co. LLC</principalName>
            <principalFileNo>8-00129</principalFileNo>
            <principalCrdNo>000000361</principalCrdNo>
            <principalLei>FOR8UP27PHTHYVLBNG30</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>70288669.58</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>RBC Capital Markets, LLC</principalName>
            <principalFileNo>8-45411</principalFileNo>
            <principalCrdNo>000031194</principalCrdNo>
            <principalLei>549300LCO2FLSSVFFR64</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>6551890.40000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Citigroup Global Markets Inc.</principalName>
            <principalFileNo>8-08177</principalFileNo>
            <principalCrdNo>000007059</principalCrdNo>
            <principalLei>MBNUM2BPBDO7JBLYG310</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>16900062.50000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Barclays Capital, Inc.</principalName>
            <principalFileNo>8-41342</principalFileNo>
            <principalCrdNo>000019714</principalCrdNo>
            <principalLei>AC28XWWI3WIBK2824319</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>16081231.17000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Wells Fargo Securities, LLC</principalName>
            <principalFileNo>8-65876</principalFileNo>
            <principalCrdNo>000126292</principalCrdNo>
            <principalLei>VYVVCKR63DVZZN70PB21</principalLei>
            <principalStateCountry principalState="US-NC" principalCountry="US"/>
            <principalTotalPurchaseSale>91493809.74</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Deutsche Bank Securities Inc.</principalName>
            <principalFileNo>8-17822</principalFileNo>
            <principalCrdNo>000002525</principalCrdNo>
            <principalLei>9J6MBOOO7BECTDTUZW19</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>8761776.15000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>BofA Securities, Inc.</principalName>
            <principalFileNo>8-69787</principalFileNo>
            <principalCrdNo>000283942</principalCrdNo>
            <principalLei>549300HN4UKV1E2R3U73</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>39497889.10000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Credit Suisse Securities (USA) LLC</principalName>
            <principalFileNo>8-00422</principalFileNo>
            <principalCrdNo>000000816</principalCrdNo>
            <principalLei>1V8Y6QCX6YMJ2OELII46</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>13772979.80000000</principalTotalPurchaseSale>
          </principalTransaction>
        </principalTransactions>
        <principalAggregatePurchase>390441116.79000000</principalAggregatePurchase>
        <isBrokerageResearchPayment>N</isBrokerageResearchPayment>
        <mnthlyAvgNetAssets>190348064.97</mnthlyAvgNetAssets>
        <hasLineOfCredit>N</hasLineOfCredit>
        <isInterfundLending>N</isInterfundLending>
        <isInterfundBorrowing>N</isInterfundBorrowing>
      </managementInvestmentQuestion>
      <managementInvestmentQuestion>
        <mgmtInvFundName>JPMorgan BetaBuilders MSCI US REIT ETF</mgmtInvFundName>
        <mgmtInvSeriesId>S000061996</mgmtInvSeriesId>
        <mgmtInvLei>549300UDD0DL9T2E4I67</mgmtInvLei>
        <isFirstFilingByFund>N</isFirstFilingByFund>
        <numAuthorizedClass>0</numAuthorizedClass>
        <numAddedClass>0</numAddedClass>
        <numTerminatedClass>0</numTerminatedClass>
        <sharesOutstandings>
          <sharesOutstanding sharesOutstandingClassName="JPMorgan BetaBuilders MSCI US REIT ETF" sharesOutstandingClassId="C000200807" sharesOutstandingTickerSymbol="BBRE"/>
        </sharesOutstandings>
        <fundTypes>
          <fundType>Exchange-Traded Fund</fundType>
          <indexFundInfo fundType="Index Fund">
            <isIndexFundAffiliated>N</isIndexFundAffiliated>
            <isIndexFundExclusive>N</isIndexFundExclusive>
            <indexFundReturnDiffBeforeExpense>-0.06</indexFundReturnDiffBeforeExpense>
            <indexFundReturnDiffAfterExpense>-0.20</indexFundReturnDiffAfterExpense>
            <indexFundReturnDailyStdevBeforeExpense>0.00080600</indexFundReturnDailyStdevBeforeExpense>
            <indexFundReturnDailyStdevAfterExpense>0.00082081</indexFundReturnDailyStdevAfterExpense>
          </indexFundInfo>
        </fundTypes>
        <isNonDiversifiedCompany>N</isNonDiversifiedCompany>
        <isForeignSubsidiary>N</isForeignSubsidiary>
        <isFundSecuritiesLending>Y</isFundSecuritiesLending>
        <fundLendSecurities didFundLendSecurities="Y">
          <isFundLiquidated>N</isFundLiquidated>
          <isFundAdverselyImpacted>N</isFundAdverselyImpacted>
        </fundLendSecurities>
        <securityLendings>
          <securityLending>
            <securitiesAgentName>Citibank N.A.</securitiesAgentName>
            <securitiesAgentLei>E57ODZWZ7FF32TWEFA76</securitiesAgentLei>
            <isSecuritiesAgentAffiliated>N</isSecuritiesAgentAffiliated>
            <securityAgentIdemnity isSecurityAgentIdemnity="Y">
              <idemnityProviders>
                <idemnityProvider idemnityProviderName="N/A" idemnityProviderLei="N/A"/>
              </idemnityProviders>
              <didIndemnificationRights>N</didIndemnificationRights>
            </securityAgentIdemnity>
          </securityLending>
        </securityLendings>
        <collateralManagers>
          <collateralManager collateralManagerName="J.P. Morgan Investment Management Inc." collateralManagerLei="549300W78QHV4XMM6K69" isCollateralManagerAffliliated="N" isCollateralManagerAffliliatedWithFund="Y"/>
        </collateralManagers>
        <paymentToAgentManagers>
          <paymentToAgentManagerType>Revenue sharing split</paymentToAgentManagerType>
          <paymentToAgentManagerType>Cash collateral reinvestment fee</paymentToAgentManagerType>
        </paymentToAgentManagers>
        <avgPortfolioSecuritiesValue>50130455.68000000</avgPortfolioSecuritiesValue>
        <netIncomeSecuritiesLending>75532.59000000</netIncomeSecuritiesLending>
        <relyOnRuleTypes>
          <relyOnRuleType>Rule 32a-4 (17 CFR 270.32a-4)</relyOnRuleType>
          <relyOnRuleType>Rule 12d1-1 (17 CFR 270.12d1-1)</relyOnRuleType>
          <relyOnRuleType>Rule 6c-11 (17 CFR 270.6c-11)</relyOnRuleType>
          <relyOnRuleType>Rule 12d1-4 (17 CFR 270.12d1-4)</relyOnRuleType>
        </relyOnRuleTypes>
        <isExpenseLimitationInPlace>Y</isExpenseLimitationInPlace>
        <isExpenseReducedOrWaived>Y</isExpenseReducedOrWaived>
        <isFeesWaivedRecoupable>N</isFeesWaivedRecoupable>
        <isExpenseWaivedRecoupable>N</isExpenseWaivedRecoupable>
        <investmentAdvisers>
          <investmentAdviser>
            <investmentAdviserName>J.P. Morgan Investment Management Inc.</investmentAdviserName>
            <investmentAdviserFileNo>801-21011</investmentAdviserFileNo>
            <investmentAdviserCrdNo>000107038</investmentAdviserCrdNo>
            <investmentAdviserLei>549300W78QHV4XMM6K69</investmentAdviserLei>
            <investmentAdviserStateCountry investmentAdviserState="US-NY" investmentAdviserCountry="US"/>
            <isInvestmentAdviserHired>N</isInvestmentAdviserHired>
          </investmentAdviser>
        </investmentAdvisers>
        <transferAgents>
          <transferAgent>
            <transferAgentName>JPMorgan Chase Bank, N.A.</transferAgentName>
            <transferAgentFileNo>N/A</transferAgentFileNo>
            <transferAgentLei>7H6GLXDRUGQFU57RNE97</transferAgentLei>
            <transferAgentStateCountry transferAgentState="US-NY" transferAgentCountry="US"/>
            <isTransferAgentAffiliated>Y</isTransferAgentAffiliated>
            <isTransferAgentSubAgent>N</isTransferAgentSubAgent>
          </transferAgent>
        </transferAgents>
        <isTransferAgentHiredOrTerminated>N</isTransferAgentHiredOrTerminated>
        <pricingServices>
          <pricingService>
            <pricingServiceName>Bloomberg L.P.</pricingServiceName>
            <pricingServiceLei>549300B56MD0ZC402L06</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>Refinitiv Global Markets Inc.</pricingServiceName>
            <pricingServiceLei>000109120</pricingServiceLei>
            <pricingServiceIdNumberDesc>CRD</pricingServiceIdNumberDesc>
            <pricingServiceStateCountry pricingServiceState="US-MA" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>ICE Data Pricing &amp; Reference Data, LLC</pricingServiceName>
            <pricingServiceLei>5493000NQ9LYLDBCTL34</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
        </pricingServices>
        <isPricingServiceHiredOrTerminated>N</isPricingServiceHiredOrTerminated>
        <custodians>
          <custodian>
            <custodianName>Goldman Sachs &amp; Co. LLC</custodianName>
            <custodianLei>FOR8UP27PHTHYVLBNG30</custodianLei>
            <custodianStateCountry custodianState="US-NY" custodianCountry="US"/>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Futures commission merchants and commodity clearing organizations - rule 17f-6 (17 CFR 270.17f-6)</custodyType>
          </custodian>
          <custodian>
            <custodianName>JPMorgan Chase Bank, N.A.</custodianName>
            <custodianLei>7H6GLXDRUGQFU57RNE97</custodianLei>
            <custodianStateCountry custodianState="US-NY" custodianCountry="US"/>
            <isCustodianAffiliated>Y</isCustodianAffiliated>
            <isSubCustodian>N</isSubCustodian>
            <custodyType>Self - rule 17f-2 (17 CFR 270.17f-2)</custodyType>
          </custodian>
        </custodians>
        <isCustodianHiredOrTerminated>N</isCustodianHiredOrTerminated>
        <isShareholderServiceHiredTerminated>N</isShareholderServiceHiredTerminated>
        <admins>
          <admin>
            <adminName>J.P. Morgan Investment Management Inc.</adminName>
            <adminLei>549300W78QHV4XMM6K69</adminLei>
            <adminStateCountry adminState="US-NY" adminCountry="US"/>
            <isAdminAffiliated>Y</isAdminAffiliated>
            <isAdminSubAdmin>N</isAdminSubAdmin>
          </admin>
          <admin>
            <adminName>JPMorgan Chase Bank, N.A.</adminName>
            <adminLei>7H6GLXDRUGQFU57RNE97</adminLei>
            <adminStateCountry adminState="US-NY" adminCountry="US"/>
            <isAdminAffiliated>Y</isAdminAffiliated>
            <isAdminSubAdmin>Y</isAdminSubAdmin>
          </admin>
        </admins>
        <isAdminHiredOrTerminated>N</isAdminHiredOrTerminated>
        <brokers>
          <broker>
            <brokerName>BNP Paribas Securities Corp.</brokerName>
            <brokerFileNo>8-32682</brokerFileNo>
            <brokerCrdNo>000015794</brokerCrdNo>
            <brokerLei>RCNB6OTYUAMMP879YW96</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>275.60000000</grossCommission>
          </broker>
          <broker>
            <brokerName>Merrill Lynch, Pierce, Fenner &amp; Smith Inc.</brokerName>
            <brokerFileNo>8-07221</brokerFileNo>
            <brokerCrdNo>000007691</brokerCrdNo>
            <brokerLei>8NAV47T0Y26Q87Y0QP81</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>1700.66000000</grossCommission>
          </broker>
          <broker>
            <brokerName>Goldman Sachs &amp; Co. LLC</brokerName>
            <brokerFileNo>8-00129</brokerFileNo>
            <brokerCrdNo>000000361</brokerCrdNo>
            <brokerLei>FOR8UP27PHTHYVLBNG30</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>9246.45000000</grossCommission>
          </broker>
          <broker>
            <brokerName>Wells Fargo Securities, LLC</brokerName>
            <brokerFileNo>8-65876</brokerFileNo>
            <brokerCrdNo>000126292</brokerCrdNo>
            <brokerLei>VYVVCKR63DVZZN70PB21</brokerLei>
            <brokerStateCountry brokerState="US-NC" brokerCountry="US"/>
            <grossCommission>245.62000000</grossCommission>
          </broker>
          <broker>
            <brokerName>ROBERT W. BAIRD &amp; CO. INCORPORATED</brokerName>
            <brokerFileNo>8-00497</brokerFileNo>
            <brokerCrdNo>000008158</brokerCrdNo>
            <brokerLei>549300772UJAHRD6LO53</brokerLei>
            <brokerStateCountry brokerState="US-WI" brokerCountry="US"/>
            <grossCommission>168.78000000</grossCommission>
          </broker>
          <broker>
            <brokerName>Morgan Stanley &amp; Co. LLC</brokerName>
            <brokerFileNo>8-15869</brokerFileNo>
            <brokerCrdNo>000008209</brokerCrdNo>
            <brokerLei>9R7GPTSO7KV3UQJZQ078</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>1886.56000000</grossCommission>
          </broker>
          <broker>
            <brokerName>CastleOak Securities, L.P.</brokerName>
            <brokerFileNo>8-65786</brokerFileNo>
            <brokerCrdNo>000125334</brokerCrdNo>
            <brokerLei>549300MXL7C60HZ59S65</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>155.50000000</grossCommission>
          </broker>
          <broker>
            <brokerName>Mizuho Securities USA LLC</brokerName>
            <brokerFileNo>8-37710</brokerFileNo>
            <brokerCrdNo>000019647</brokerCrdNo>
            <brokerLei>7TK5RJIZDFROZCA6XF66</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>777.42000000</grossCommission>
          </broker>
          <broker>
            <brokerName>Citigroup Global Markets Inc.</brokerName>
            <brokerFileNo>8-08177</brokerFileNo>
            <brokerCrdNo>000007059</brokerCrdNo>
            <brokerLei>MBNUM2BPBDO7JBLYG310</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>2028.59000000</grossCommission>
          </broker>
          <broker>
            <brokerName>Credit Suisse Securities (USA) LLC</brokerName>
            <brokerFileNo>8-00422</brokerFileNo>
            <brokerCrdNo>000000816</brokerCrdNo>
            <brokerLei>1V8Y6QCX6YMJ2OELII46</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>205.10000000</grossCommission>
          </broker>
        </brokers>
        <aggregateCommission>17413.11000000</aggregateCommission>
        <principalTransactions>
          <principalTransaction>
            <principalName>Goldman Sachs &amp; Co. LLC</principalName>
            <principalFileNo>8-00129</principalFileNo>
            <principalCrdNo>000000361</principalCrdNo>
            <principalLei>FOR8UP27PHTHYVLBNG30</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>313801466.94</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Citadel Securities LLC</principalName>
            <principalFileNo>8-53574</principalFileNo>
            <principalCrdNo>000116797</principalCrdNo>
            <principalLei>12UUJYTN7D3SW8KCSG25</principalLei>
            <principalStateCountry principalState="US-IL" principalCountry="US"/>
            <principalTotalPurchaseSale>214088987.92</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Morgan Stanley &amp; Co. LLC</principalName>
            <principalFileNo>8-15869</principalFileNo>
            <principalCrdNo>000008209</principalCrdNo>
            <principalLei>9R7GPTSO7KV3UQJZQ078</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>58835432.96</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Merrill Lynch, Pierce, Fenner &amp; Smith Inc.</principalName>
            <principalFileNo>8-07221</principalFileNo>
            <principalCrdNo>000007691</principalCrdNo>
            <principalLei>8NAV47T0Y26Q87Y0QP81</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>665420821.99</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Virtu Americas LLC</principalName>
            <principalFileNo>8-68193</principalFileNo>
            <principalCrdNo>000149823</principalCrdNo>
            <principalLei>549300RA02N3BNSWBV74</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>28850208.15</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>RBC Capital Markets, LLC</principalName>
            <principalFileNo>8-45411</principalFileNo>
            <principalCrdNo>000031194</principalCrdNo>
            <principalLei>549300LCO2FLSSVFFR64</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>88775666.93</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Wells Fargo Securities, LLC</principalName>
            <principalFileNo>8-65876</principalFileNo>
            <principalCrdNo>000126292</principalCrdNo>
            <principalLei>VYVVCKR63DVZZN70PB21</principalLei>
            <principalStateCountry principalState="US-NC" principalCountry="US"/>
            <principalTotalPurchaseSale>2498372.08</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>BofA Securities, Inc.</principalName>
            <principalFileNo>8-69787</principalFileNo>
            <principalCrdNo>000283942</principalCrdNo>
            <principalLei>549300HN4UKV1E2R3U73</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>27520.00</principalTotalPurchaseSale>
          </principalTransaction>
        </principalTransactions>
        <principalAggregatePurchase>1372298476.97</principalAggregatePurchase>
        <isBrokerageResearchPayment>Y</isBrokerageResearchPayment>
        <mnthlyAvgNetAssets>1403106795.48</mnthlyAvgNetAssets>
        <hasLineOfCredit>N</hasLineOfCredit>
        <isInterfundLending>N</isInterfundLending>
        <isInterfundBorrowing>N</isInterfundBorrowing>
      </managementInvestmentQuestion>
      <managementInvestmentQuestion>
        <mgmtInvFundName>JPMorgan Income ETF</mgmtInvFundName>
        <mgmtInvSeriesId>S000072932</mgmtInvSeriesId>
        <mgmtInvLei>549300CYQ8KHPO2GR356</mgmtInvLei>
        <isFirstFilingByFund>Y</isFirstFilingByFund>
        <numAuthorizedClass>0</numAuthorizedClass>
        <numAddedClass>0</numAddedClass>
        <numTerminatedClass>0</numTerminatedClass>
        <sharesOutstandings>
          <sharesOutstanding sharesOutstandingClassName="JPMorgan Income ETF" sharesOutstandingClassId="C000229632" sharesOutstandingTickerSymbol="JPIE"/>
        </sharesOutstandings>
        <fundTypes>
          <fundType>Exchange-Traded Fund</fundType>
        </fundTypes>
        <isNonDiversifiedCompany>N</isNonDiversifiedCompany>
        <isForeignSubsidiary>N</isForeignSubsidiary>
        <isFundSecuritiesLending>Y</isFundSecuritiesLending>
        <didFundLendSecurities>N</didFundLendSecurities>
        <securityLendings>
          <securityLending>
            <securitiesAgentName>Citibank N.A.</securitiesAgentName>
            <securitiesAgentLei>E57ODZWZ7FF32TWEFA76</securitiesAgentLei>
            <isSecuritiesAgentAffiliated>N</isSecuritiesAgentAffiliated>
            <securityAgentIdemnity isSecurityAgentIdemnity="Y">
              <idemnityProviders>
                <idemnityProvider idemnityProviderName="N/A" idemnityProviderLei="N/A"/>
              </idemnityProviders>
              <didIndemnificationRights>N</didIndemnificationRights>
            </securityAgentIdemnity>
          </securityLending>
        </securityLendings>
        <collateralManagers>
          <collateralManager collateralManagerName="J.P. Morgan Investment Management Inc." collateralManagerLei="549300W78QHV4XMM6K69" isCollateralManagerAffliliated="N" isCollateralManagerAffliliatedWithFund="Y"/>
        </collateralManagers>
        <paymentToAgentManagers>
          <paymentToAgentManagerType>Cash collateral reinvestment fee</paymentToAgentManagerType>
          <paymentToAgentManagerType>Revenue sharing split</paymentToAgentManagerType>
        </paymentToAgentManagers>
        <avgPortfolioSecuritiesValue>0.00000000</avgPortfolioSecuritiesValue>
        <netIncomeSecuritiesLending>0.00000000</netIncomeSecuritiesLending>
        <relyOnRuleTypes>
          <relyOnRuleType>Rule 6c-11 (17 CFR 270.6c-11)</relyOnRuleType>
          <relyOnRuleType>Rule 32a-4 (17 CFR 270.32a-4)</relyOnRuleType>
          <relyOnRuleType>Rule 12d1-4 (17 CFR 270.12d1-4)</relyOnRuleType>
          <relyOnRuleType>Rule 10f-3 (17 CFR 270.10f-3)</relyOnRuleType>
          <relyOnRuleType>Rule 12d1-1 (17 CFR 270.12d1-1)</relyOnRuleType>
        </relyOnRuleTypes>
        <isExpenseLimitationInPlace>Y</isExpenseLimitationInPlace>
        <isExpenseReducedOrWaived>Y</isExpenseReducedOrWaived>
        <isFeesWaivedRecoupable>N</isFeesWaivedRecoupable>
        <isExpenseWaivedRecoupable>N</isExpenseWaivedRecoupable>
        <investmentAdvisers>
          <investmentAdviser>
            <investmentAdviserName>J.P. Morgan Investment Management Inc.</investmentAdviserName>
            <investmentAdviserFileNo>801-21011</investmentAdviserFileNo>
            <investmentAdviserCrdNo>000107038</investmentAdviserCrdNo>
            <investmentAdviserLei>549300W78QHV4XMM6K69</investmentAdviserLei>
            <investmentAdviserStateCountry investmentAdviserState="US-NY" investmentAdviserCountry="US"/>
            <isInvestmentAdviserHired>N</isInvestmentAdviserHired>
          </investmentAdviser>
        </investmentAdvisers>
        <transferAgents>
          <transferAgent>
            <transferAgentName>JPMorgan Chase Bank, N.A.</transferAgentName>
            <transferAgentFileNo>N/A</transferAgentFileNo>
            <transferAgentLei>7H6GLXDRUGQFU57RNE97</transferAgentLei>
            <transferAgentStateCountry transferAgentState="US-NY" transferAgentCountry="US"/>
            <isTransferAgentAffiliated>Y</isTransferAgentAffiliated>
            <isTransferAgentSubAgent>N</isTransferAgentSubAgent>
          </transferAgent>
        </transferAgents>
        <isTransferAgentHiredOrTerminated>N</isTransferAgentHiredOrTerminated>
        <pricingServices>
          <pricingService>
            <pricingServiceName>ICE Data Pricing &amp; Reference Data, LLC</pricingServiceName>
            <pricingServiceLei>5493000NQ9LYLDBCTL34</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>Bloomberg L.P.</pricingServiceName>
            <pricingServiceLei>549300B56MD0ZC402L06</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>PricingDirect Inc.</pricingServiceName>
            <pricingServiceLei>549300WIC0TOJ7N7GD54</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>Refinitiv Global Markets Inc.</pricingServiceName>
            <pricingServiceLei>000109120</pricingServiceLei>
            <pricingServiceIdNumberDesc>CRD</pricingServiceIdNumberDesc>
            <pricingServiceStateCountry pricingServiceState="US-MA" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
        </pricingServices>
        <isPricingServiceHiredOrTerminated>N</isPricingServiceHiredOrTerminated>
        <custodians>
          <custodian>
            <custodianName>JPMorgan Chase Bank, N.A.</custodianName>
            <custodianLei>7H6GLXDRUGQFU57RNE97</custodianLei>
            <custodianCountry>AU</custodianCountry>
            <isCustodianAffiliated>Y</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>J.P. Morgan Bank Luxembourg S.A.</custodianName>
            <custodianLei>7W1GMC6J4KGLBBUSYP52</custodianLei>
            <custodianCountry>FR</custodianCountry>
            <isCustodianAffiliated>Y</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>Santander Securities Services, S.A.</custodianName>
            <custodianLei>95980020140005970915</custodianLei>
            <custodianCountry>ES</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>Deutsche Bank AG</custodianName>
            <custodianLei>7LTWFZYICNSX8D621K86</custodianLei>
            <custodianCountry>DE</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>JPMorgan Chase Bank, N.A.</custodianName>
            <custodianLei>7H6GLXDRUGQFU57RNE97</custodianLei>
            <custodianStateCountry custodianState="US-NY" custodianCountry="US"/>
            <isCustodianAffiliated>Y</isCustodianAffiliated>
            <isSubCustodian>N</isSubCustodian>
            <custodyType>Self - rule 17f-2 (17 CFR 270.17f-2)</custodyType>
          </custodian>
          <custodian>
            <custodianName>Royal Bank of Canada</custodianName>
            <custodianLei>ES7IP3U3RHIGC71XBU11</custodianLei>
            <custodianCountry>CA</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>Banco Itau Uruguay S.A.</custodianName>
            <custodianLei>549300HU8OQS1VTVXN55</custodianLei>
            <custodianCountry>UY</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>Skandinaviska Enskilda Banken AB</custodianName>
            <custodianLei>F3JS33DEI6XQ4ZBPTN86</custodianLei>
            <custodianCountry>SE</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>HSBC Bank Malaysia Berhad</custodianName>
            <custodianLei>P3RPN9OJFCXUPJWB1Q09</custodianLei>
            <custodianCountry>MY</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>Banco Nacional de Mexico, S.A.</custodianName>
            <custodianLei>2SFFM4FUIE05S37WFU55</custodianLei>
            <custodianCountry>MX</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>JPMorgan Chase Bank, N.A.</custodianName>
            <custodianLei>7H6GLXDRUGQFU57RNE97</custodianLei>
            <custodianCountry>NZ</custodianCountry>
            <isCustodianAffiliated>Y</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>BNP Paribas Securities Services S.C.A.</custodianName>
            <custodianLei>549300WCGB70D06XZS54</custodianLei>
            <custodianCountry>IT</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>Standard Chartered Bank (Thai) Public Company Limited</custodianName>
            <custodianLei>549300O1LQYCQ7G1IM57</custodianLei>
            <custodianCountry>TH</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>Deutsche Bank AG</custodianName>
            <custodianLei>7LTWFZYICNSX8D621K86</custodianLei>
            <custodianCountry>HU</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>Euroclear</custodianName>
            <custodianLei>549300OZ46BRLZ8Y6F65</custodianLei>
            <custodianCountry>BE</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign securities depository - rule 17f-7 (17 CFR 270.17f-7)</custodyType>
          </custodian>
          <custodian>
            <custodianName>J.P. Morgan S.A. DTVM</custodianName>
            <custodianLei>5493001LS7J56NZZ3G07</custodianLei>
            <custodianCountry>BR</custodianCountry>
            <isCustodianAffiliated>Y</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>Citibank Europe plc</custodianName>
            <custodianLei>N1FBEDJ5J41VKZLO2475</custodianLei>
            <custodianCountry>RO</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>HSBC Bank (China) Company Limited</custodianName>
            <custodianLei>2CZOJRADNJXBLT55G526</custodianLei>
            <custodianCountry>CN</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>Skandinaviska Enskilda Banken AB</custodianName>
            <custodianLei>F3JS33DEI6XQ4ZBPTN86</custodianLei>
            <custodianCountry>NO</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>UniCredit Bank Austria AG</custodianName>
            <custodianLei>D1HEB8VEU6D9M8ZUXG17</custodianLei>
            <custodianCountry>AT</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>Citibank A.S.</custodianName>
            <custodianLei>CWZ8NZDH5SKY12Q4US31</custodianLei>
            <custodianCountry>TR</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>Citibank, N.A.</custodianName>
            <custodianLei>E57ODZWZ7FF32TWEFA76</custodianLei>
            <custodianCountry>EG</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>SEB FINLAND</custodianName>
            <custodianLei>F3JS33DEI6XQ4ZBPTN86</custodianLei>
            <custodianCountry>FI</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>Skandinaviska Enskilda Banken AB</custodianName>
            <custodianLei>F3JS33DEI6XQ4ZBPTN86</custodianLei>
            <custodianCountry>DK</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>Standard Chartered Bank Kenya Limited</custodianName>
            <custodianLei>549300RBHWW5EJIRG629</custodianLei>
            <custodianCountry>KE</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>UniCredit Bank Czech Republic and Slovakia, a.s.</custodianName>
            <custodianLei>KR6LSKV3BTSJRD41IF75</custodianLei>
            <custodianCountry>CZ</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>Stanbic IBTC Bank Plc</custodianName>
            <custodianLei>029200098C3K8BI2D551</custodianLei>
            <custodianCountry>NG</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>J.P. Morgan Bank Luxembourg S.A.</custodianName>
            <custodianLei>7W1GMC6J4KGLBBUSYP52</custodianLei>
            <custodianCountry>BE</custodianCountry>
            <isCustodianAffiliated>Y</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>BofA Securities, Inc.</custodianName>
            <custodianLei>549300HN4UKV1E2R3U73</custodianLei>
            <custodianStateCountry custodianState="US-NY" custodianCountry="US"/>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Futures commission merchants and commodity clearing organizations - rule 17f-6 (17 CFR 270.17f-6)</custodyType>
          </custodian>
          <custodian>
            <custodianName>Citibank del Peru S.A.</custodianName>
            <custodianLei>MYTK5NHHP1G8TVFGT193</custodianLei>
            <custodianCountry>PE</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>Bank Leumi le-Israel B.M.</custodianName>
            <custodianLei>7JDSZWRGUQY2DSTWCR57</custodianLei>
            <custodianCountry>IL</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>Banco Santander Chile</custodianName>
            <custodianLei>3YJP8HORPAEXJ80D6368</custodianLei>
            <custodianCountry>CL</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>BNP Paribas Securities Services S.C.A.</custodianName>
            <custodianLei>549300WCGB70D06XZS54</custodianLei>
            <custodianCountry>PT</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>DBS Bank Ltd</custodianName>
            <custodianLei>ATUEL7OJR5057F2PV266</custodianLei>
            <custodianCountry>SG</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>Societe Generale Marocaine de Banques</custodianName>
            <custodianLei>549300WHIMVBNIDQWK21</custodianLei>
            <custodianCountry>MA</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>JPMorgan Chase Bank, N.A.</custodianName>
            <custodianLei>7H6GLXDRUGQFU57RNE97</custodianLei>
            <custodianCountry>GB</custodianCountry>
            <isCustodianAffiliated>Y</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>The Hongkong and Shanghai Banking Corporation Limited</custodianName>
            <custodianLei>2HI3YI5320L3RW6NJ957</custodianLei>
            <custodianCountry>PH</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>HSBC Bank Argentina S.A.</custodianName>
            <custodianLei>549300K52NF2S4SQDO82</custodianLei>
            <custodianCountry>AR</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>J.P. Morgan Bank Luxembourg S.A.</custodianName>
            <custodianLei>7W1GMC6J4KGLBBUSYP52</custodianLei>
            <custodianCountry>NL</custodianCountry>
            <isCustodianAffiliated>Y</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>Standard Chartered Bank Korea Limited</custodianName>
            <custodianLei>NUXTG47HHHM1K2L0SG39</custodianLei>
            <custodianCountry>KR</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>FirstRand Bank Limited</custodianName>
            <custodianLei>ZAYQDKTCATIXF9OQY690</custodianLei>
            <custodianCountry>ZA</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>HSBC Bank Middle East Limited</custodianName>
            <custodianLei>549300F99IL9YJDWH369</custodianLei>
            <custodianCountry>AE</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>UBS Switzerland AG</custodianName>
            <custodianLei>549300WOIFUSNYH0FL22</custodianLei>
            <custodianCountry>CH</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>JPMorgan Chase Bank, N.A.</custodianName>
            <custodianLei>7H6GLXDRUGQFU57RNE97</custodianLei>
            <custodianCountry>HK</custodianCountry>
            <isCustodianAffiliated>Y</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>Bank Handlowy w. Warszawie S.A.</custodianName>
            <custodianLei>XLEZHWWOI4HFQDGL4793</custodianLei>
            <custodianCountry>PL</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
        </custodians>
        <isCustodianHiredOrTerminated>N</isCustodianHiredOrTerminated>
        <isShareholderServiceHiredTerminated>N</isShareholderServiceHiredTerminated>
        <admins>
          <admin>
            <adminName>JPMorgan Chase Bank, N.A.</adminName>
            <adminLei>7H6GLXDRUGQFU57RNE97</adminLei>
            <adminStateCountry adminState="US-NY" adminCountry="US"/>
            <isAdminAffiliated>Y</isAdminAffiliated>
            <isAdminSubAdmin>Y</isAdminSubAdmin>
          </admin>
          <admin>
            <adminName>J.P. Morgan Investment Management Inc.</adminName>
            <adminLei>549300W78QHV4XMM6K69</adminLei>
            <adminStateCountry adminState="US-NY" adminCountry="US"/>
            <isAdminAffiliated>Y</isAdminAffiliated>
            <isAdminSubAdmin>N</isAdminSubAdmin>
          </admin>
        </admins>
        <isAdminHiredOrTerminated>N</isAdminHiredOrTerminated>
        <brokers>
          <broker>
            <brokerName>Citigroup Global Markets Inc.</brokerName>
            <brokerFileNo>8-08177</brokerFileNo>
            <brokerCrdNo>000007059</brokerCrdNo>
            <brokerLei>MBNUM2BPBDO7JBLYG310</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>438.51000000</grossCommission>
          </broker>
          <broker>
            <brokerName>Barclays Capital, Inc.</brokerName>
            <brokerFileNo>8-41342</brokerFileNo>
            <brokerCrdNo>000019714</brokerCrdNo>
            <brokerLei>AC28XWWI3WIBK2824319</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>1472.76000000</grossCommission>
          </broker>
          <broker>
            <brokerName>BofA Securities, Inc.</brokerName>
            <brokerFileNo>8-69787</brokerFileNo>
            <brokerCrdNo>000283942</brokerCrdNo>
            <brokerLei>549300HN4UKV1E2R3U73</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>893.43000000</grossCommission>
          </broker>
          <broker>
            <brokerName>Goldman Sachs &amp; Co. LLC</brokerName>
            <brokerFileNo>8-00129</brokerFileNo>
            <brokerCrdNo>000000361</brokerCrdNo>
            <brokerLei>FOR8UP27PHTHYVLBNG30</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>2177.15000000</grossCommission>
          </broker>
          <broker>
            <brokerName>Deutsche Bank Securities Inc.</brokerName>
            <brokerFileNo>8-17822</brokerFileNo>
            <brokerCrdNo>000002525</brokerCrdNo>
            <brokerLei>9J6MBOOO7BECTDTUZW19</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>118.60000000</grossCommission>
          </broker>
          <broker>
            <brokerName>Virtu Americas LLC</brokerName>
            <brokerFileNo>8-68193</brokerFileNo>
            <brokerCrdNo>000149823</brokerCrdNo>
            <brokerLei>549300RA02N3BNSWBV74</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>150.00000000</grossCommission>
          </broker>
          <broker>
            <brokerName>Merrill Lynch, Pierce, Fenner &amp; Smith Inc.</brokerName>
            <brokerFileNo>8-07221</brokerFileNo>
            <brokerCrdNo>000007691</brokerCrdNo>
            <brokerLei>8NAV47T0Y26Q87Y0QP81</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>250.25000000</grossCommission>
          </broker>
          <broker>
            <brokerName>Morgan Stanley &amp; Co. LLC</brokerName>
            <brokerFileNo>8-15869</brokerFileNo>
            <brokerCrdNo>000008209</brokerCrdNo>
            <brokerLei>9R7GPTSO7KV3UQJZQ078</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>389.13000000</grossCommission>
          </broker>
        </brokers>
        <aggregateCommission>5889.83000000</aggregateCommission>
        <principalTransactions>
          <principalTransaction>
            <principalName>Goldman Sachs &amp; Co. LLC</principalName>
            <principalFileNo>8-00129</principalFileNo>
            <principalCrdNo>000000361</principalCrdNo>
            <principalLei>FOR8UP27PHTHYVLBNG30</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>5411243.71000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Morgan Stanley &amp; Co. LLC</principalName>
            <principalFileNo>8-15869</principalFileNo>
            <principalCrdNo>000008209</principalCrdNo>
            <principalLei>9R7GPTSO7KV3UQJZQ078</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>8234177.89</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>BOK Financial Securities, Inc.</principalName>
            <principalFileNo>8-35381</principalFileNo>
            <principalCrdNo>000017530</principalCrdNo>
            <principalLei>5493008UZFTI4G7UQ733</principalLei>
            <principalStateCountry principalState="US-OK" principalCountry="US"/>
            <principalTotalPurchaseSale>5231835.94000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Barclays Capital, Inc.</principalName>
            <principalFileNo>8-41342</principalFileNo>
            <principalCrdNo>000019714</principalCrdNo>
            <principalLei>AC28XWWI3WIBK2824319</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>5064784.08000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Citigroup Global Markets Inc.</principalName>
            <principalFileNo>8-08177</principalFileNo>
            <principalCrdNo>000007059</principalCrdNo>
            <principalLei>MBNUM2BPBDO7JBLYG310</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>19185180.04</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Jane Street Execution Services, LLC</principalName>
            <principalFileNo>8-69254</principalFileNo>
            <principalCrdNo>000167280</principalCrdNo>
            <principalLei>549300HXJLXCPDWAH070</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>29052764.40000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Jefferies LLC</principalName>
            <principalFileNo>8-15074</principalFileNo>
            <principalCrdNo>000002347</principalCrdNo>
            <principalLei>58PU97L1C0WSRCWADL48</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>5018078.90000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>BofA Securities, Inc.</principalName>
            <principalFileNo>8-69787</principalFileNo>
            <principalCrdNo>000283942</principalCrdNo>
            <principalLei>549300HN4UKV1E2R3U73</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>6627537.28000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Wells Fargo Securities, LLC</principalName>
            <principalFileNo>8-65876</principalFileNo>
            <principalCrdNo>000126292</principalCrdNo>
            <principalLei>VYVVCKR63DVZZN70PB21</principalLei>
            <principalStateCountry principalState="US-NC" principalCountry="US"/>
            <principalTotalPurchaseSale>4568616.03000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Performance Trust Capital Partners, LLC</principalName>
            <principalFileNo>8-47035</principalFileNo>
            <principalCrdNo>000036155</principalCrdNo>
            <principalLei>549300F8NR5Q23JRIY74</principalLei>
            <principalStateCountry principalState="US-IL" principalCountry="US"/>
            <principalTotalPurchaseSale>10565548.65000000</principalTotalPurchaseSale>
          </principalTransaction>
        </principalTransactions>
        <principalAggregatePurchase>131684857.79000000</principalAggregatePurchase>
        <isBrokerageResearchPayment>Y</isBrokerageResearchPayment>
        <mnthlyAvgNetAssets>112437029.67</mnthlyAvgNetAssets>
        <hasLineOfCredit>N</hasLineOfCredit>
        <isInterfundLending>N</isInterfundLending>
        <isInterfundBorrowing>N</isInterfundBorrowing>
      </managementInvestmentQuestion>
      <managementInvestmentQuestion>
        <mgmtInvFundName>JPMorgan Short Duration Core Plus ETF</mgmtInvFundName>
        <mgmtInvSeriesId>S000071090</mgmtInvSeriesId>
        <mgmtInvLei>549300V5YHFS27F77L35</mgmtInvLei>
        <isFirstFilingByFund>Y</isFirstFilingByFund>
        <numAuthorizedClass>0</numAuthorizedClass>
        <numAddedClass>0</numAddedClass>
        <numTerminatedClass>0</numTerminatedClass>
        <sharesOutstandings>
          <sharesOutstanding sharesOutstandingClassName="JPMorgan Short Duration Core Plus ETF" sharesOutstandingClassId="C000225677" sharesOutstandingTickerSymbol="JSCP"/>
        </sharesOutstandings>
        <fundTypes>
          <fundType>Exchange-Traded Fund</fundType>
        </fundTypes>
        <isNonDiversifiedCompany>N</isNonDiversifiedCompany>
        <isForeignSubsidiary>N</isForeignSubsidiary>
        <isFundSecuritiesLending>Y</isFundSecuritiesLending>
        <fundLendSecurities didFundLendSecurities="Y">
          <isFundLiquidated>N</isFundLiquidated>
          <isFundAdverselyImpacted>N</isFundAdverselyImpacted>
        </fundLendSecurities>
        <securityLendings>
          <securityLending>
            <securitiesAgentName>Citibank N.A.</securitiesAgentName>
            <securitiesAgentLei>E57ODZWZ7FF32TWEFA76</securitiesAgentLei>
            <isSecuritiesAgentAffiliated>N</isSecuritiesAgentAffiliated>
            <securityAgentIdemnity isSecurityAgentIdemnity="Y">
              <idemnityProviders>
                <idemnityProvider idemnityProviderName="N/A" idemnityProviderLei="N/A"/>
              </idemnityProviders>
              <didIndemnificationRights>N</didIndemnificationRights>
            </securityAgentIdemnity>
          </securityLending>
        </securityLendings>
        <collateralManagers>
          <collateralManager collateralManagerName="J.P. Morgan Investment Management Inc." collateralManagerLei="549300W78QHV4XMM6K69" isCollateralManagerAffliliated="N" isCollateralManagerAffliliatedWithFund="Y"/>
        </collateralManagers>
        <paymentToAgentManagers>
          <paymentToAgentManagerType>Revenue sharing split</paymentToAgentManagerType>
          <paymentToAgentManagerType>Cash collateral reinvestment fee</paymentToAgentManagerType>
        </paymentToAgentManagers>
        <avgPortfolioSecuritiesValue>123069.15000000</avgPortfolioSecuritiesValue>
        <netIncomeSecuritiesLending>867.12000000</netIncomeSecuritiesLending>
        <relyOnRuleTypes>
          <relyOnRuleType>Rule 32a-4 (17 CFR 270.32a-4)</relyOnRuleType>
          <relyOnRuleType>Rule 12d1-4 (17 CFR 270.12d1-4)</relyOnRuleType>
          <relyOnRuleType>Rule 12d1-1 (17 CFR 270.12d1-1)</relyOnRuleType>
          <relyOnRuleType>Rule 6c-11 (17 CFR 270.6c-11)</relyOnRuleType>
          <relyOnRuleType>Rule 10f-3 (17 CFR 270.10f-3)</relyOnRuleType>
        </relyOnRuleTypes>
        <isExpenseLimitationInPlace>Y</isExpenseLimitationInPlace>
        <isExpenseReducedOrWaived>Y</isExpenseReducedOrWaived>
        <isFeesWaivedRecoupable>N</isFeesWaivedRecoupable>
        <isExpenseWaivedRecoupable>N</isExpenseWaivedRecoupable>
        <investmentAdvisers>
          <investmentAdviser>
            <investmentAdviserName>J.P. Morgan Investment Management Inc.</investmentAdviserName>
            <investmentAdviserFileNo>801-21011</investmentAdviserFileNo>
            <investmentAdviserCrdNo>000107038</investmentAdviserCrdNo>
            <investmentAdviserLei>549300W78QHV4XMM6K69</investmentAdviserLei>
            <investmentAdviserStateCountry investmentAdviserState="US-NY" investmentAdviserCountry="US"/>
            <isInvestmentAdviserHired>N</isInvestmentAdviserHired>
          </investmentAdviser>
        </investmentAdvisers>
        <transferAgents>
          <transferAgent>
            <transferAgentName>JPMorgan Chase Bank, N.A.</transferAgentName>
            <transferAgentFileNo>N/A</transferAgentFileNo>
            <transferAgentLei>7H6GLXDRUGQFU57RNE97</transferAgentLei>
            <transferAgentStateCountry transferAgentState="US-NY" transferAgentCountry="US"/>
            <isTransferAgentAffiliated>Y</isTransferAgentAffiliated>
            <isTransferAgentSubAgent>N</isTransferAgentSubAgent>
          </transferAgent>
        </transferAgents>
        <isTransferAgentHiredOrTerminated>N</isTransferAgentHiredOrTerminated>
        <pricingServices>
          <pricingService>
            <pricingServiceName>PricingDirect Inc.</pricingServiceName>
            <pricingServiceLei>549300WIC0TOJ7N7GD54</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>Refinitiv Global Markets Inc.</pricingServiceName>
            <pricingServiceLei>000109120</pricingServiceLei>
            <pricingServiceIdNumberDesc>CRD</pricingServiceIdNumberDesc>
            <pricingServiceStateCountry pricingServiceState="US-MA" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>Bloomberg L.P.</pricingServiceName>
            <pricingServiceLei>549300B56MD0ZC402L06</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>ICE Data Pricing &amp; Reference Data, LLC</pricingServiceName>
            <pricingServiceLei>5493000NQ9LYLDBCTL34</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
        </pricingServices>
        <isPricingServiceHiredOrTerminated>N</isPricingServiceHiredOrTerminated>
        <custodians>
          <custodian>
            <custodianName>Bank Handlowy w. Warszawie S.A.</custodianName>
            <custodianLei>XLEZHWWOI4HFQDGL4793</custodianLei>
            <custodianCountry>PL</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>Skandinaviska Enskilda Banken AB</custodianName>
            <custodianLei>F3JS33DEI6XQ4ZBPTN86</custodianLei>
            <custodianCountry>SE</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>JPMorgan Chase Bank, N.A.</custodianName>
            <custodianLei>7H6GLXDRUGQFU57RNE97</custodianLei>
            <custodianCountry>HK</custodianCountry>
            <isCustodianAffiliated>Y</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>HSBC Bank Argentina S.A.</custodianName>
            <custodianLei>549300K52NF2S4SQDO82</custodianLei>
            <custodianCountry>AR</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>Skandinaviska Enskilda Banken AB</custodianName>
            <custodianLei>F3JS33DEI6XQ4ZBPTN86</custodianLei>
            <custodianCountry>NO</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>UBS Switzerland AG</custodianName>
            <custodianLei>549300WOIFUSNYH0FL22</custodianLei>
            <custodianCountry>CH</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>DBS Bank Ltd</custodianName>
            <custodianLei>ATUEL7OJR5057F2PV266</custodianLei>
            <custodianCountry>SG</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>Standard Chartered Bank Zambia Plc</custodianName>
            <custodianLei>549300247QDZHDI30A83</custodianLei>
            <custodianCountry>ZM</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>BNP Paribas Securities Services S.C.A.</custodianName>
            <custodianLei>549300WCGB70D06XZS54</custodianLei>
            <custodianCountry>PT</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>JPMorgan Chase Bank, N.A.</custodianName>
            <custodianLei>7H6GLXDRUGQFU57RNE97</custodianLei>
            <custodianCountry>NZ</custodianCountry>
            <isCustodianAffiliated>Y</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>JPMorgan Chase Bank, N.A.</custodianName>
            <custodianLei>7H6GLXDRUGQFU57RNE97</custodianLei>
            <custodianStateCountry custodianState="US-NY" custodianCountry="US"/>
            <isCustodianAffiliated>Y</isCustodianAffiliated>
            <isSubCustodian>N</isSubCustodian>
            <custodyType>Self - rule 17f-2 (17 CFR 270.17f-2)</custodyType>
          </custodian>
          <custodian>
            <custodianName>Euroclear</custodianName>
            <custodianLei>549300OZ46BRLZ8Y6F65</custodianLei>
            <custodianCountry>BE</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign securities depository - rule 17f-7 (17 CFR 270.17f-7)</custodyType>
          </custodian>
          <custodian>
            <custodianName>SEB FINLAND</custodianName>
            <custodianLei>F3JS33DEI6XQ4ZBPTN86</custodianLei>
            <custodianCountry>FI</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>BNP Paribas Securities Services S.C.A.</custodianName>
            <custodianLei>549300WCGB70D06XZS54</custodianLei>
            <custodianCountry>IT</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>Stanbic IBTC Bank Plc</custodianName>
            <custodianLei>029200098C3K8BI2D551</custodianLei>
            <custodianCountry>NG</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>Banco Itau Uruguay S.A.</custodianName>
            <custodianLei>549300HU8OQS1VTVXN55</custodianLei>
            <custodianCountry>UY</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>Mizuho Bank, Ltd.</custodianName>
            <custodianLei>RB0PEZSDGCO3JS6CEU02</custodianLei>
            <custodianCountry>JP</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>HSBC France Athens Branch</custodianName>
            <custodianLei>MP6I5ZYZBEU3UXPYFY54</custodianLei>
            <custodianCountry>GR</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>UniCredit Bank Czech Republic and Slovakia, a.s.</custodianName>
            <custodianLei>KR6LSKV3BTSJRD41IF75</custodianLei>
            <custodianCountry>CZ</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>J.P. Morgan Bank Luxembourg S.A.</custodianName>
            <custodianLei>7W1GMC6J4KGLBBUSYP52</custodianLei>
            <custodianCountry>FR</custodianCountry>
            <isCustodianAffiliated>Y</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>FirstRand Bank Limited</custodianName>
            <custodianLei>ZAYQDKTCATIXF9OQY690</custodianLei>
            <custodianCountry>ZA</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>HSBC Bank Middle East Limited</custodianName>
            <custodianLei>549300F99IL9YJDWH369</custodianLei>
            <custodianCountry>AE</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>Banco Nacional de Mexico, S.A.</custodianName>
            <custodianLei>2SFFM4FUIE05S37WFU55</custodianLei>
            <custodianCountry>MX</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>J.P. Morgan Bank Luxembourg S.A.</custodianName>
            <custodianLei>7W1GMC6J4KGLBBUSYP52</custodianLei>
            <custodianCountry>BE</custodianCountry>
            <isCustodianAffiliated>Y</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>JPMorgan Chase Bank, N.A.</custodianName>
            <custodianLei>7H6GLXDRUGQFU57RNE97</custodianLei>
            <custodianCountry>GB</custodianCountry>
            <isCustodianAffiliated>Y</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>Banco Santander Chile</custodianName>
            <custodianLei>3YJP8HORPAEXJ80D6368</custodianLei>
            <custodianCountry>CL</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>Euroclear</custodianName>
            <custodianLei>549300OZ46BRLZ8Y6F65</custodianLei>
            <custodianCountry>IE</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign securities depository - rule 17f-7 (17 CFR 270.17f-7)</custodyType>
          </custodian>
          <custodian>
            <custodianName>Royal Bank of Canada</custodianName>
            <custodianLei>ES7IP3U3RHIGC71XBU11</custodianLei>
            <custodianCountry>CA</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>Standard Chartered Bank Korea Limited</custodianName>
            <custodianLei>NUXTG47HHHM1K2L0SG39</custodianLei>
            <custodianCountry>KR</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>Santander Securities Services, S.A.</custodianName>
            <custodianLei>95980020140005970915</custodianLei>
            <custodianCountry>ES</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>Cititrust Colombia S.A.</custodianName>
            <custodianLei>549300242J3IJCOSGI49</custodianLei>
            <custodianCountry>CO</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>Deutsche Bank AG</custodianName>
            <custodianLei>7LTWFZYICNSX8D621K86</custodianLei>
            <custodianCountry>DE</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>The Hongkong and Shanghai Banking Corporation Limited</custodianName>
            <custodianLei>2HI3YI5320L3RW6NJ957</custodianLei>
            <custodianCountry>PH</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>Deutsche Bank AG</custodianName>
            <custodianLei>7LTWFZYICNSX8D621K86</custodianLei>
            <custodianCountry>HU</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>Citibank del Peru S.A.</custodianName>
            <custodianLei>MYTK5NHHP1G8TVFGT193</custodianLei>
            <custodianCountry>PE</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>HSBC Bank Bermuda Limited</custodianName>
            <custodianLei>0W1U67PTV5WY3WYWKD79</custodianLei>
            <custodianCountry>BM</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>J.P. Morgan Bank Luxembourg S.A.</custodianName>
            <custodianLei>7W1GMC6J4KGLBBUSYP52</custodianLei>
            <custodianCountry>NL</custodianCountry>
            <isCustodianAffiliated>Y</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>Skandinaviska Enskilda Banken AB</custodianName>
            <custodianLei>F3JS33DEI6XQ4ZBPTN86</custodianLei>
            <custodianCountry>DK</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>JPMorgan Chase Bank, N.A.</custodianName>
            <custodianLei>7H6GLXDRUGQFU57RNE97</custodianLei>
            <custodianCountry>AU</custodianCountry>
            <isCustodianAffiliated>Y</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>HSBC Bank Malaysia Berhad</custodianName>
            <custodianLei>P3RPN9OJFCXUPJWB1Q09</custodianLei>
            <custodianCountry>MY</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
        </custodians>
        <isCustodianHiredOrTerminated>N</isCustodianHiredOrTerminated>
        <isShareholderServiceHiredTerminated>N</isShareholderServiceHiredTerminated>
        <admins>
          <admin>
            <adminName>JPMorgan Chase Bank, N.A.</adminName>
            <adminLei>7H6GLXDRUGQFU57RNE97</adminLei>
            <adminStateCountry adminState="US-NY" adminCountry="US"/>
            <isAdminAffiliated>Y</isAdminAffiliated>
            <isAdminSubAdmin>Y</isAdminSubAdmin>
          </admin>
          <admin>
            <adminName>J.P. Morgan Investment Management Inc.</adminName>
            <adminLei>549300W78QHV4XMM6K69</adminLei>
            <adminStateCountry adminState="US-NY" adminCountry="US"/>
            <isAdminAffiliated>Y</isAdminAffiliated>
            <isAdminSubAdmin>N</isAdminSubAdmin>
          </admin>
        </admins>
        <isAdminHiredOrTerminated>N</isAdminHiredOrTerminated>
        <brokers>
          <broker>
            <brokerName>BofA Securities, Inc.</brokerName>
            <brokerFileNo>8-69787</brokerFileNo>
            <brokerCrdNo>000283942</brokerCrdNo>
            <brokerLei>549300HN4UKV1E2R3U73</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>262.45000000</grossCommission>
          </broker>
          <broker>
            <brokerName>Merrill Lynch, Pierce, Fenner &amp; Smith Inc.</brokerName>
            <brokerFileNo>8-07221</brokerFileNo>
            <brokerCrdNo>000007691</brokerCrdNo>
            <brokerLei>8NAV47T0Y26Q87Y0QP81</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>1.70000000</grossCommission>
          </broker>
          <broker>
            <brokerName>Citigroup Global Markets Inc.</brokerName>
            <brokerFileNo>8-08177</brokerFileNo>
            <brokerCrdNo>000007059</brokerCrdNo>
            <brokerLei>MBNUM2BPBDO7JBLYG310</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>1349.35000000</grossCommission>
          </broker>
          <broker>
            <brokerName>Goldman Sachs &amp; Co. LLC</brokerName>
            <brokerFileNo>8-00129</brokerFileNo>
            <brokerCrdNo>000000361</brokerCrdNo>
            <brokerLei>FOR8UP27PHTHYVLBNG30</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>1924.70000000</grossCommission>
          </broker>
          <broker>
            <brokerName>Morgan Stanley &amp; Co. LLC</brokerName>
            <brokerFileNo>8-15869</brokerFileNo>
            <brokerCrdNo>000008209</brokerCrdNo>
            <brokerLei>9R7GPTSO7KV3UQJZQ078</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>38.65000000</grossCommission>
          </broker>
          <broker>
            <brokerName>Barclays Capital, Inc.</brokerName>
            <brokerFileNo>8-41342</brokerFileNo>
            <brokerCrdNo>000019714</brokerCrdNo>
            <brokerLei>AC28XWWI3WIBK2824319</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>953.16000000</grossCommission>
          </broker>
          <broker>
            <brokerName>Deutsche Bank Securities Inc.</brokerName>
            <brokerFileNo>8-17822</brokerFileNo>
            <brokerCrdNo>000002525</brokerCrdNo>
            <brokerLei>9J6MBOOO7BECTDTUZW19</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>17.25000000</grossCommission>
          </broker>
        </brokers>
        <aggregateCommission>4547.26000000</aggregateCommission>
        <principalTransactions>
          <principalTransaction>
            <principalName>Goldman Sachs &amp; Co. LLC</principalName>
            <principalFileNo>8-00129</principalFileNo>
            <principalCrdNo>000000361</principalCrdNo>
            <principalLei>FOR8UP27PHTHYVLBNG30</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>55045734.76</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>HSBC Securities (USA) Inc.</principalName>
            <principalFileNo>8-41562</principalFileNo>
            <principalCrdNo>000019585</principalCrdNo>
            <principalLei>CYYGQCGNHMHPSMRL3R97</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>15782404.30000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>RBC Capital Markets, LLC</principalName>
            <principalFileNo>8-45411</principalFileNo>
            <principalCrdNo>000031194</principalCrdNo>
            <principalLei>549300LCO2FLSSVFFR64</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>11004594.03</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Deutsche Bank Securities Inc.</principalName>
            <principalFileNo>8-17822</principalFileNo>
            <principalCrdNo>000002525</principalCrdNo>
            <principalLei>9J6MBOOO7BECTDTUZW19</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>55894111.39000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Barclays Capital, Inc.</principalName>
            <principalFileNo>8-41342</principalFileNo>
            <principalCrdNo>000019714</principalCrdNo>
            <principalLei>AC28XWWI3WIBK2824319</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>15952743.61</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>BofA Securities, Inc.</principalName>
            <principalFileNo>8-69787</principalFileNo>
            <principalCrdNo>000283942</principalCrdNo>
            <principalLei>549300HN4UKV1E2R3U73</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>43255060.07000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Morgan Stanley &amp; Co. LLC</principalName>
            <principalFileNo>8-15869</principalFileNo>
            <principalCrdNo>000008209</principalCrdNo>
            <principalLei>9R7GPTSO7KV3UQJZQ078</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>198530683.53000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Wells Fargo Securities, LLC</principalName>
            <principalFileNo>8-65876</principalFileNo>
            <principalCrdNo>000126292</principalCrdNo>
            <principalLei>VYVVCKR63DVZZN70PB21</principalLei>
            <principalStateCountry principalState="US-NC" principalCountry="US"/>
            <principalTotalPurchaseSale>50529003.22</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Credit Suisse Securities (USA) LLC</principalName>
            <principalFileNo>8-00422</principalFileNo>
            <principalCrdNo>000000816</principalCrdNo>
            <principalLei>1V8Y6QCX6YMJ2OELII46</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>20805199.36</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Citigroup Global Markets Inc.</principalName>
            <principalFileNo>8-08177</principalFileNo>
            <principalCrdNo>000007059</principalCrdNo>
            <principalLei>MBNUM2BPBDO7JBLYG310</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>77093270.18000000</principalTotalPurchaseSale>
          </principalTransaction>
        </principalTransactions>
        <principalAggregatePurchase>605393497.37000000</principalAggregatePurchase>
        <isBrokerageResearchPayment>N</isBrokerageResearchPayment>
        <mnthlyAvgNetAssets>120763300.46</mnthlyAvgNetAssets>
        <hasLineOfCredit>N</hasLineOfCredit>
        <isInterfundLending>N</isInterfundLending>
        <isInterfundBorrowing>N</isInterfundBorrowing>
      </managementInvestmentQuestion>
      <managementInvestmentQuestion>
        <mgmtInvFundName>JPMorgan High Yield Research Enhanced ETF</mgmtInvFundName>
        <mgmtInvSeriesId>S000054488</mgmtInvSeriesId>
        <mgmtInvLei>549300UUJZT2ZWE64W88</mgmtInvLei>
        <isFirstFilingByFund>N</isFirstFilingByFund>
        <numAuthorizedClass>0</numAuthorizedClass>
        <numAddedClass>0</numAddedClass>
        <numTerminatedClass>0</numTerminatedClass>
        <sharesOutstandings>
          <sharesOutstanding sharesOutstandingClassName="JPMorgan High Yield Research Enhanced ETF" sharesOutstandingClassId="C000171065" sharesOutstandingTickerSymbol="JPHY"/>
        </sharesOutstandings>
        <fundTypes>
          <fundType>Exchange-Traded Fund</fundType>
        </fundTypes>
        <isNonDiversifiedCompany>N</isNonDiversifiedCompany>
        <isForeignSubsidiary>N</isForeignSubsidiary>
        <isFundSecuritiesLending>Y</isFundSecuritiesLending>
        <didFundLendSecurities>N</didFundLendSecurities>
        <securityLendings>
          <securityLending>
            <securitiesAgentName>Citibank N.A.</securitiesAgentName>
            <securitiesAgentLei>E57ODZWZ7FF32TWEFA76</securitiesAgentLei>
            <isSecuritiesAgentAffiliated>N</isSecuritiesAgentAffiliated>
            <securityAgentIdemnity isSecurityAgentIdemnity="Y">
              <idemnityProviders>
                <idemnityProvider idemnityProviderName="N/A" idemnityProviderLei="N/A"/>
              </idemnityProviders>
              <didIndemnificationRights>N</didIndemnificationRights>
            </securityAgentIdemnity>
          </securityLending>
        </securityLendings>
        <collateralManagers>
          <collateralManager collateralManagerName="J.P. Morgan Investment Management Inc." collateralManagerLei="549300W78QHV4XMM6K69" isCollateralManagerAffliliated="N" isCollateralManagerAffliliatedWithFund="Y"/>
        </collateralManagers>
        <paymentToAgentManagers>
          <paymentToAgentManagerType>Cash collateral reinvestment fee</paymentToAgentManagerType>
          <paymentToAgentManagerType>Revenue sharing split</paymentToAgentManagerType>
        </paymentToAgentManagers>
        <avgPortfolioSecuritiesValue>0.00000000</avgPortfolioSecuritiesValue>
        <netIncomeSecuritiesLending>0.00000000</netIncomeSecuritiesLending>
        <relyOnRuleTypes>
          <relyOnRuleType>Rule 6c-11 (17 CFR 270.6c-11)</relyOnRuleType>
          <relyOnRuleType>Rule 12d1-1 (17 CFR 270.12d1-1)</relyOnRuleType>
          <relyOnRuleType>Rule 32a-4 (17 CFR 270.32a-4)</relyOnRuleType>
          <relyOnRuleType>Rule 12d1-4 (17 CFR 270.12d1-4)</relyOnRuleType>
          <relyOnRuleType>Rule 10f-3 (17 CFR 270.10f-3)</relyOnRuleType>
        </relyOnRuleTypes>
        <isExpenseLimitationInPlace>Y</isExpenseLimitationInPlace>
        <isExpenseReducedOrWaived>Y</isExpenseReducedOrWaived>
        <isFeesWaivedRecoupable>N</isFeesWaivedRecoupable>
        <isExpenseWaivedRecoupable>N</isExpenseWaivedRecoupable>
        <investmentAdvisers>
          <investmentAdviser>
            <investmentAdviserName>J.P. Morgan Investment Management Inc.</investmentAdviserName>
            <investmentAdviserFileNo>801-21011</investmentAdviserFileNo>
            <investmentAdviserCrdNo>000107038</investmentAdviserCrdNo>
            <investmentAdviserLei>549300W78QHV4XMM6K69</investmentAdviserLei>
            <investmentAdviserStateCountry investmentAdviserState="US-NY" investmentAdviserCountry="US"/>
            <isInvestmentAdviserHired>N</isInvestmentAdviserHired>
          </investmentAdviser>
        </investmentAdvisers>
        <transferAgents>
          <transferAgent>
            <transferAgentName>JPMorgan Chase Bank, N.A.</transferAgentName>
            <transferAgentFileNo>N/A</transferAgentFileNo>
            <transferAgentLei>7H6GLXDRUGQFU57RNE97</transferAgentLei>
            <transferAgentStateCountry transferAgentState="US-NY" transferAgentCountry="US"/>
            <isTransferAgentAffiliated>Y</isTransferAgentAffiliated>
            <isTransferAgentSubAgent>N</isTransferAgentSubAgent>
          </transferAgent>
        </transferAgents>
        <isTransferAgentHiredOrTerminated>N</isTransferAgentHiredOrTerminated>
        <pricingServices>
          <pricingService>
            <pricingServiceName>Bloomberg L.P.</pricingServiceName>
            <pricingServiceLei>549300B56MD0ZC402L06</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>ICE Data Pricing &amp; Reference Data, LLC</pricingServiceName>
            <pricingServiceLei>5493000NQ9LYLDBCTL34</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>PricingDirect Inc.</pricingServiceName>
            <pricingServiceLei>549300WIC0TOJ7N7GD54</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
        </pricingServices>
        <isPricingServiceHiredOrTerminated>N</isPricingServiceHiredOrTerminated>
        <custodians>
          <custodian>
            <custodianName>Euroclear</custodianName>
            <custodianLei>549300OZ46BRLZ8Y6F65</custodianLei>
            <custodianCountry>BE</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign securities depository - rule 17f-7 (17 CFR 270.17f-7)</custodyType>
          </custodian>
          <custodian>
            <custodianName>JPMorgan Chase Bank, N.A.</custodianName>
            <custodianLei>7H6GLXDRUGQFU57RNE97</custodianLei>
            <custodianStateCountry custodianState="US-NY" custodianCountry="US"/>
            <isCustodianAffiliated>Y</isCustodianAffiliated>
            <isSubCustodian>N</isSubCustodian>
            <custodyType>Self - rule 17f-2 (17 CFR 270.17f-2)</custodyType>
          </custodian>
        </custodians>
        <isCustodianHiredOrTerminated>N</isCustodianHiredOrTerminated>
        <isShareholderServiceHiredTerminated>N</isShareholderServiceHiredTerminated>
        <admins>
          <admin>
            <adminName>JPMorgan Chase Bank, N.A.</adminName>
            <adminLei>7H6GLXDRUGQFU57RNE97</adminLei>
            <adminStateCountry adminState="US-NY" adminCountry="US"/>
            <isAdminAffiliated>Y</isAdminAffiliated>
            <isAdminSubAdmin>Y</isAdminSubAdmin>
          </admin>
          <admin>
            <adminName>J.P. Morgan Investment Management Inc.</adminName>
            <adminLei>549300W78QHV4XMM6K69</adminLei>
            <adminStateCountry adminState="US-NY" adminCountry="US"/>
            <isAdminAffiliated>Y</isAdminAffiliated>
            <isAdminSubAdmin>N</isAdminSubAdmin>
          </admin>
        </admins>
        <isAdminHiredOrTerminated>N</isAdminHiredOrTerminated>
        <aggregateCommission>0.00000000</aggregateCommission>
        <principalTransactions>
          <principalTransaction>
            <principalName>Jane Street Execution Services, LLC</principalName>
            <principalFileNo>8-69254</principalFileNo>
            <principalCrdNo>000167280</principalCrdNo>
            <principalLei>549300HXJLXCPDWAH070</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>259083447.76</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Citigroup Global Markets Inc.</principalName>
            <principalFileNo>8-08177</principalFileNo>
            <principalCrdNo>000007059</principalCrdNo>
            <principalLei>MBNUM2BPBDO7JBLYG310</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>112084006.35</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Jane Street Capital, LLC</principalName>
            <principalFileNo>8-52275</principalFileNo>
            <principalCrdNo>000103782</principalCrdNo>
            <principalLei>549300ZM16HMPEPNV857</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>356733838.60</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Barclays Capital, Inc.</principalName>
            <principalFileNo>8-41342</principalFileNo>
            <principalCrdNo>000019714</principalCrdNo>
            <principalLei>AC28XWWI3WIBK2824319</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>146576058.05</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Jefferies LLC</principalName>
            <principalFileNo>8-15074</principalFileNo>
            <principalCrdNo>000002347</principalCrdNo>
            <principalLei>58PU97L1C0WSRCWADL48</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>41047732.28</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Wells Fargo Securities, LLC</principalName>
            <principalFileNo>8-65876</principalFileNo>
            <principalCrdNo>000126292</principalCrdNo>
            <principalLei>VYVVCKR63DVZZN70PB21</principalLei>
            <principalStateCountry principalState="US-NC" principalCountry="US"/>
            <principalTotalPurchaseSale>33202566.10</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Flow Traders B.V.</principalName>
            <principalFileNo>N/A</principalFileNo>
            <principalCrdNo>N/A</principalCrdNo>
            <principalLei>549300CLJI9XDH12XV51</principalLei>
            <principalCountry>NL</principalCountry>
            <principalTotalPurchaseSale>62326439.50</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Goldman Sachs &amp; Co. LLC</principalName>
            <principalFileNo>8-00129</principalFileNo>
            <principalCrdNo>000000361</principalCrdNo>
            <principalLei>FOR8UP27PHTHYVLBNG30</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>243302640.57</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Morgan Stanley &amp; Co. LLC</principalName>
            <principalFileNo>8-15869</principalFileNo>
            <principalCrdNo>000008209</principalCrdNo>
            <principalLei>9R7GPTSO7KV3UQJZQ078</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>66011995.53</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>BofA Securities, Inc.</principalName>
            <principalFileNo>8-69787</principalFileNo>
            <principalCrdNo>000283942</principalCrdNo>
            <principalLei>549300HN4UKV1E2R3U73</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>93018025.03</principalTotalPurchaseSale>
          </principalTransaction>
        </principalTransactions>
        <principalAggregatePurchase>1577113016.59</principalAggregatePurchase>
        <isBrokerageResearchPayment>N</isBrokerageResearchPayment>
        <mnthlyAvgNetAssets>1571787765.91</mnthlyAvgNetAssets>
        <hasLineOfCredit>N</hasLineOfCredit>
        <isInterfundLending>N</isInterfundLending>
        <isInterfundBorrowing>N</isInterfundBorrowing>
      </managementInvestmentQuestion>
      <managementInvestmentQuestion>
        <mgmtInvFundName>JPMorgan BetaBuilders 1-5 Year U.S. Aggregate Bond ETF</mgmtInvFundName>
        <mgmtInvSeriesId>S000064871</mgmtInvSeriesId>
        <mgmtInvLei>549300ESGD5JCSV6BH63</mgmtInvLei>
        <isFirstFilingByFund>N</isFirstFilingByFund>
        <numAuthorizedClass>0</numAuthorizedClass>
        <numAddedClass>0</numAddedClass>
        <numTerminatedClass>0</numTerminatedClass>
        <sharesOutstandings>
          <sharesOutstanding sharesOutstandingClassName="JPMorgan BetaBuilders 1-5 Year U.S. Aggregate Bond ETF" sharesOutstandingClassId="C000209991" sharesOutstandingTickerSymbol="BBSA"/>
        </sharesOutstandings>
        <fundTypes>
          <fundType>Exchange-Traded Fund</fundType>
          <indexFundInfo fundType="Index Fund">
            <isIndexFundAffiliated>N</isIndexFundAffiliated>
            <isIndexFundExclusive>N</isIndexFundExclusive>
            <indexFundReturnDiffBeforeExpense>-0.02</indexFundReturnDiffBeforeExpense>
            <indexFundReturnDiffAfterExpense>-0.07</indexFundReturnDiffAfterExpense>
            <indexFundReturnDailyStdevBeforeExpense>0.00803729</indexFundReturnDailyStdevBeforeExpense>
            <indexFundReturnDailyStdevAfterExpense>0.00803729</indexFundReturnDailyStdevAfterExpense>
          </indexFundInfo>
        </fundTypes>
        <isNonDiversifiedCompany>N</isNonDiversifiedCompany>
        <isForeignSubsidiary>N</isForeignSubsidiary>
        <isFundSecuritiesLending>Y</isFundSecuritiesLending>
        <fundLendSecurities didFundLendSecurities="Y">
          <isFundLiquidated>N</isFundLiquidated>
          <isFundAdverselyImpacted>N</isFundAdverselyImpacted>
        </fundLendSecurities>
        <securityLendings>
          <securityLending>
            <securitiesAgentName>Citibank N.A.</securitiesAgentName>
            <securitiesAgentLei>E57ODZWZ7FF32TWEFA76</securitiesAgentLei>
            <isSecuritiesAgentAffiliated>N</isSecuritiesAgentAffiliated>
            <securityAgentIdemnity isSecurityAgentIdemnity="Y">
              <idemnityProviders>
                <idemnityProvider idemnityProviderName="N/A" idemnityProviderLei="N/A"/>
              </idemnityProviders>
              <didIndemnificationRights>N</didIndemnificationRights>
            </securityAgentIdemnity>
          </securityLending>
        </securityLendings>
        <collateralManagers>
          <collateralManager collateralManagerName="J.P. Morgan Investment Management Inc." collateralManagerLei="549300W78QHV4XMM6K69" isCollateralManagerAffliliated="N" isCollateralManagerAffliliatedWithFund="Y"/>
        </collateralManagers>
        <paymentToAgentManagers>
          <paymentToAgentManagerType>Cash collateral reinvestment fee</paymentToAgentManagerType>
          <paymentToAgentManagerType>Revenue sharing split</paymentToAgentManagerType>
        </paymentToAgentManagers>
        <avgPortfolioSecuritiesValue>61317.45000000</avgPortfolioSecuritiesValue>
        <netIncomeSecuritiesLending>288.17000000</netIncomeSecuritiesLending>
        <relyOnRuleTypes>
          <relyOnRuleType>Rule 6c-11 (17 CFR 270.6c-11)</relyOnRuleType>
          <relyOnRuleType>Rule 32a-4 (17 CFR 270.32a-4)</relyOnRuleType>
          <relyOnRuleType>Rule 12d1-1 (17 CFR 270.12d1-1)</relyOnRuleType>
          <relyOnRuleType>Rule 12d1-4 (17 CFR 270.12d1-4)</relyOnRuleType>
        </relyOnRuleTypes>
        <isExpenseLimitationInPlace>Y</isExpenseLimitationInPlace>
        <isExpenseReducedOrWaived>Y</isExpenseReducedOrWaived>
        <isFeesWaivedRecoupable>N</isFeesWaivedRecoupable>
        <isExpenseWaivedRecoupable>N</isExpenseWaivedRecoupable>
        <investmentAdvisers>
          <investmentAdviser>
            <investmentAdviserName>J.P. Morgan Investment Management Inc.</investmentAdviserName>
            <investmentAdviserFileNo>801-21011</investmentAdviserFileNo>
            <investmentAdviserCrdNo>000107038</investmentAdviserCrdNo>
            <investmentAdviserLei>549300W78QHV4XMM6K69</investmentAdviserLei>
            <investmentAdviserStateCountry investmentAdviserState="US-NY" investmentAdviserCountry="US"/>
            <isInvestmentAdviserHired>N</isInvestmentAdviserHired>
          </investmentAdviser>
        </investmentAdvisers>
        <transferAgents>
          <transferAgent>
            <transferAgentName>JPMorgan Chase Bank, N.A.</transferAgentName>
            <transferAgentFileNo>N/A</transferAgentFileNo>
            <transferAgentLei>7H6GLXDRUGQFU57RNE97</transferAgentLei>
            <transferAgentStateCountry transferAgentState="US-NY" transferAgentCountry="US"/>
            <isTransferAgentAffiliated>Y</isTransferAgentAffiliated>
            <isTransferAgentSubAgent>N</isTransferAgentSubAgent>
          </transferAgent>
        </transferAgents>
        <isTransferAgentHiredOrTerminated>N</isTransferAgentHiredOrTerminated>
        <pricingServices>
          <pricingService>
            <pricingServiceName>ICE Data Pricing &amp; Reference Data, LLC</pricingServiceName>
            <pricingServiceLei>5493000NQ9LYLDBCTL34</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>Bloomberg L.P.</pricingServiceName>
            <pricingServiceLei>549300B56MD0ZC402L06</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
        </pricingServices>
        <isPricingServiceHiredOrTerminated>N</isPricingServiceHiredOrTerminated>
        <custodians>
          <custodian>
            <custodianName>JPMorgan Chase Bank, N.A.</custodianName>
            <custodianLei>7H6GLXDRUGQFU57RNE97</custodianLei>
            <custodianStateCountry custodianState="US-NY" custodianCountry="US"/>
            <isCustodianAffiliated>Y</isCustodianAffiliated>
            <isSubCustodian>N</isSubCustodian>
            <custodyType>Self - rule 17f-2 (17 CFR 270.17f-2)</custodyType>
          </custodian>
          <custodian>
            <custodianName>Euroclear</custodianName>
            <custodianLei>549300OZ46BRLZ8Y6F65</custodianLei>
            <custodianCountry>BE</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign securities depository - rule 17f-7 (17 CFR 270.17f-7)</custodyType>
          </custodian>
        </custodians>
        <isCustodianHiredOrTerminated>N</isCustodianHiredOrTerminated>
        <isShareholderServiceHiredTerminated>N</isShareholderServiceHiredTerminated>
        <admins>
          <admin>
            <adminName>J.P. Morgan Investment Management Inc.</adminName>
            <adminLei>549300W78QHV4XMM6K69</adminLei>
            <adminStateCountry adminState="US-NY" adminCountry="US"/>
            <isAdminAffiliated>Y</isAdminAffiliated>
            <isAdminSubAdmin>N</isAdminSubAdmin>
          </admin>
          <admin>
            <adminName>JPMorgan Chase Bank, N.A.</adminName>
            <adminLei>7H6GLXDRUGQFU57RNE97</adminLei>
            <adminStateCountry adminState="US-NY" adminCountry="US"/>
            <isAdminAffiliated>Y</isAdminAffiliated>
            <isAdminSubAdmin>Y</isAdminSubAdmin>
          </admin>
        </admins>
        <isAdminHiredOrTerminated>N</isAdminHiredOrTerminated>
        <aggregateCommission>0.00000000</aggregateCommission>
        <principalTransactions>
          <principalTransaction>
            <principalName>RBC Capital Markets, LLC</principalName>
            <principalFileNo>8-45411</principalFileNo>
            <principalCrdNo>000031194</principalCrdNo>
            <principalLei>549300LCO2FLSSVFFR64</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>3672569.88</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Morgan Stanley &amp; Co. LLC</principalName>
            <principalFileNo>8-15869</principalFileNo>
            <principalCrdNo>000008209</principalCrdNo>
            <principalLei>9R7GPTSO7KV3UQJZQ078</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>7472315.44</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>BofA Securities, Inc.</principalName>
            <principalFileNo>8-69787</principalFileNo>
            <principalCrdNo>000283942</principalCrdNo>
            <principalLei>549300HN4UKV1E2R3U73</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>13325307.22</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Jane Street Capital, LLC</principalName>
            <principalFileNo>8-52275</principalFileNo>
            <principalCrdNo>000103782</principalCrdNo>
            <principalLei>549300ZM16HMPEPNV857</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>45217423.78</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>MarketAxess Corporation</principalName>
            <principalFileNo>8-50727</principalFileNo>
            <principalCrdNo>000044542</principalCrdNo>
            <principalLei>GPSMMRI21JE7ZCVYF972</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>1704347.41</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>TD Securities (USA) LLC</principalName>
            <principalFileNo>8-36747</principalFileNo>
            <principalCrdNo>000018476</principalCrdNo>
            <principalLei>SUVUFHICNZMP2WKHG940</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>1103928.66</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Wells Fargo Securities, LLC</principalName>
            <principalFileNo>8-65876</principalFileNo>
            <principalCrdNo>000126292</principalCrdNo>
            <principalLei>VYVVCKR63DVZZN70PB21</principalLei>
            <principalStateCountry principalState="US-NC" principalCountry="US"/>
            <principalTotalPurchaseSale>1439893.92</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Goldman Sachs &amp; Co. LLC</principalName>
            <principalFileNo>8-00129</principalFileNo>
            <principalCrdNo>000000361</principalCrdNo>
            <principalLei>FOR8UP27PHTHYVLBNG30</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>4626875.23</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Deutsche Bank Securities Inc.</principalName>
            <principalFileNo>8-17822</principalFileNo>
            <principalCrdNo>000002525</principalCrdNo>
            <principalLei>9J6MBOOO7BECTDTUZW19</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>3557828.86</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Citigroup Global Markets Inc.</principalName>
            <principalFileNo>8-08177</principalFileNo>
            <principalCrdNo>000007059</principalCrdNo>
            <principalLei>MBNUM2BPBDO7JBLYG310</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>5628120.29</principalTotalPurchaseSale>
          </principalTransaction>
        </principalTransactions>
        <principalAggregatePurchase>98053142.64</principalAggregatePurchase>
        <isBrokerageResearchPayment>N</isBrokerageResearchPayment>
        <mnthlyAvgNetAssets>51449959.65</mnthlyAvgNetAssets>
        <hasLineOfCredit>N</hasLineOfCredit>
        <isInterfundLending>N</isInterfundLending>
        <isInterfundBorrowing>N</isInterfundBorrowing>
      </managementInvestmentQuestion>
    </managementInvestmentQuestionSeriesInfo>
    <exchangeSeriesInfo>
      <exchangeTradedFund>
        <fundName>JPMorgan Ultra-Short Municipal Income ETF</fundName>
        <etfSeriesId>S000063269</etfSeriesId>
        <securityExchanges>
          <securityExchange fundExchange="CBSX" fundsTickerSymbol="JMST"/>
        </securityExchanges>
        <authorizedParticipants>
          <authorizedParticipant authorizedParticipantName="Citigroup Global Markets Inc." authorizedParticipantFileNo="8-08177" authorizedParticipantCrdNo="000007059" authorizedParticipantLei="MBNUM2BPBDO7JBLYG310" authorizedParticipantPurchaseValue="200464487.89" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="UBS Securities LLC" authorizedParticipantFileNo="8-22651" authorizedParticipantCrdNo="000007654" authorizedParticipantLei="T6FIZBDPKLYJKFCRVK44" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Credit Suisse Securities (USA) LLC" authorizedParticipantFileNo="8-00422" authorizedParticipantCrdNo="000000816" authorizedParticipantLei="1V8Y6QCX6YMJ2OELII46" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Barclays Capital, Inc." authorizedParticipantFileNo="8-41342" authorizedParticipantCrdNo="000019714" authorizedParticipantLei="AC28XWWI3WIBK2824319" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Virtu Americas LLC" authorizedParticipantFileNo="8-68193" authorizedParticipantCrdNo="000149823" authorizedParticipantLei="549300RA02N3BNSWBV74" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Jane Street Capital, LLC" authorizedParticipantFileNo="8-52275" authorizedParticipantCrdNo="000103782" authorizedParticipantLei="549300ZM16HMPEPNV857" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Mizuho Securities USA LLC" authorizedParticipantFileNo="8-37710" authorizedParticipantCrdNo="000019647" authorizedParticipantLei="7TK5RJIZDFROZCA6XF66" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Morgan Stanley &amp; Co. LLC" authorizedParticipantFileNo="8-15869" authorizedParticipantCrdNo="000008209" authorizedParticipantLei="9R7GPTSO7KV3UQJZQ078" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="BNP Paribas Securities Corp" authorizedParticipantFileNo="8-32682" authorizedParticipantCrdNo="000015794" authorizedParticipantLei="RCNB6OTYUAMMP879YW96" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Wells Fargo Securities, LLC" authorizedParticipantFileNo="8-65876" authorizedParticipantCrdNo="000126292" authorizedParticipantLei="VYVVCKR63DVZZN70PB21" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="RBC Capital Markets, LLC" authorizedParticipantFileNo="8-45411" authorizedParticipantCrdNo="000031194" authorizedParticipantLei="549300LCO2FLSSVFFR64" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="SG Americas Securities, LLC" authorizedParticipantFileNo="8-66125" authorizedParticipantCrdNo="000128351" authorizedParticipantLei="549300F35UE0BOM1WJ55" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="BofA Securities, Inc." authorizedParticipantFileNo="8-69787" authorizedParticipantCrdNo="000283942" authorizedParticipantLei="549300HN4UKV1E2R3U73" authorizedParticipantPurchaseValue="900650770.26" authorizedParticipantRedeemValue="76210728.20"/>
          <authorizedParticipant authorizedParticipantName="BNY Mellon Capital Markets, LLC" authorizedParticipantFileNo="8-35255" authorizedParticipantCrdNo="000017454" authorizedParticipantLei="VJW2DOOHGDT6PR0ZRO63" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Goldman Sachs &amp; Co. LLC" authorizedParticipantFileNo="8-00129" authorizedParticipantCrdNo="000000361" authorizedParticipantLei="FOR8UP27PHTHYVLBNG30" authorizedParticipantPurchaseValue="716834667.27" authorizedParticipantRedeemValue="22890274.31"/>
        </authorizedParticipants>
        <isCollateralRequired>N</isCollateralRequired>
        <creationUnitNumOfShares>50000.00000000</creationUnitNumOfShares>
        <averagePercentagePurchased>100.00000000</averagePercentagePurchased>
        <standardDeviationPurchased>0.00000000</standardDeviationPurchased>
        <creationUnitPurchasedInKind>0.00000000</creationUnitPurchasedInKind>
        <creationUnitPurchasedSDInKind>0.00000000</creationUnitPurchasedSDInKind>
        <averagePercentageRedeemed>100.00000000</averagePercentageRedeemed>
        <percentSDRedeemed>0.00000000</percentSDRedeemed>
        <creationUnitPercentageRedeemedInKind>0.00000000</creationUnitPercentageRedeemedInKind>
        <creationUnitSDRedeemedInKind>0.00000000</creationUnitSDRedeemedInKind>
        <creationUnitTransactionFeePerUnit>N/A</creationUnitTransactionFeePerUnit>
        <creationUnitTransactionFeeManyUnits>900.00000000</creationUnitTransactionFeeManyUnits>
        <creationUnitTransactionFeePercentagePerUnit>0.00000637</creationUnitTransactionFeePercentagePerUnit>
        <creationUnitTransactionFeeCashPerUnit>N/A</creationUnitTransactionFeeCashPerUnit>
        <creationUnitTransactionFeeCashManyUnits>900.00000000</creationUnitTransactionFeeCashManyUnits>
        <creationUnitTransactionFeeCashPercentagePerUnit>0.00000637</creationUnitTransactionFeeCashPercentagePerUnit>
        <purchaseCreationUnitDollarPerUnit>N/A</purchaseCreationUnitDollarPerUnit>
        <purchaseCreationUnitDollarPerMoreUnits>900.00000000</purchaseCreationUnitDollarPerMoreUnits>
        <purchaseCreationUnitDollarPercentagePerUnit>0.00000750</purchaseCreationUnitDollarPercentagePerUnit>
        <purchaseCreationUnitCashPerUnit>N/A</purchaseCreationUnitCashPerUnit>
        <purchaseCreationUnitCashPerMoreUnits>900.00000000</purchaseCreationUnitCashPerMoreUnits>
        <purchaseCreationUnitCashPercentagePerUnit>0.00000750</purchaseCreationUnitCashPercentagePerUnit>
        <isInKindETF>N</isInKindETF>
      </exchangeTradedFund>
      <exchangeTradedFund>
        <fundName>JPMorgan Corporate Bond Research Enhanced ETF</fundName>
        <etfSeriesId>S000063667</etfSeriesId>
        <securityExchanges>
          <securityExchange fundExchange="ARCX" fundsTickerSymbol="JIGB"/>
        </securityExchanges>
        <authorizedParticipants>
          <authorizedParticipant authorizedParticipantName="Virtu Americas LLC" authorizedParticipantFileNo="8-68193" authorizedParticipantCrdNo="000149823" authorizedParticipantLei="549300RA02N3BNSWBV74" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Mizuho Securities USA LLC" authorizedParticipantFileNo="8-37710" authorizedParticipantCrdNo="000019647" authorizedParticipantLei="7TK5RJIZDFROZCA6XF66" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Morgan Stanley &amp; Co. LLC" authorizedParticipantFileNo="8-15869" authorizedParticipantCrdNo="000008209" authorizedParticipantLei="9R7GPTSO7KV3UQJZQ078" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Goldman Sachs &amp; Co. LLC" authorizedParticipantFileNo="8-00129" authorizedParticipantCrdNo="000000361" authorizedParticipantLei="FOR8UP27PHTHYVLBNG30" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="RBC Capital Markets, LLC" authorizedParticipantFileNo="8-45411" authorizedParticipantCrdNo="000031194" authorizedParticipantLei="549300LCO2FLSSVFFR64" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="BNY Mellon Capital Markets, LLC" authorizedParticipantFileNo="8-35255" authorizedParticipantCrdNo="000017454" authorizedParticipantLei="VJW2DOOHGDT6PR0ZRO63" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="BNP Paribas Securities Corp" authorizedParticipantFileNo="8-32682" authorizedParticipantCrdNo="000015794" authorizedParticipantLei="RCNB6OTYUAMMP879YW96" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Citigroup Global Markets Inc." authorizedParticipantFileNo="8-08177" authorizedParticipantCrdNo="000007059" authorizedParticipantLei="MBNUM2BPBDO7JBLYG310" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Credit Suisse Securities (USA) LLC" authorizedParticipantFileNo="8-00422" authorizedParticipantCrdNo="000000816" authorizedParticipantLei="1V8Y6QCX6YMJ2OELII46" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Barclays Capital, Inc." authorizedParticipantFileNo="8-41342" authorizedParticipantCrdNo="000019714" authorizedParticipantLei="AC28XWWI3WIBK2824319" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Wells Fargo Securities, LLC" authorizedParticipantFileNo="8-65876" authorizedParticipantCrdNo="000126292" authorizedParticipantLei="VYVVCKR63DVZZN70PB21" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="BofA Securities, Inc." authorizedParticipantFileNo="8-69787" authorizedParticipantCrdNo="000283942" authorizedParticipantLei="549300HN4UKV1E2R3U73" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Jane Street Capital, LLC" authorizedParticipantFileNo="8-52275" authorizedParticipantCrdNo="000103782" authorizedParticipantLei="549300ZM16HMPEPNV857" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="UBS Securities LLC" authorizedParticipantFileNo="8-22651" authorizedParticipantCrdNo="000007654" authorizedParticipantLei="T6FIZBDPKLYJKFCRVK44" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="SG Americas Securities, LLC" authorizedParticipantFileNo="8-66125" authorizedParticipantCrdNo="000128351" authorizedParticipantLei="549300F35UE0BOM1WJ55" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
        </authorizedParticipants>
        <isCollateralRequired>N</isCollateralRequired>
        <creationUnitNumOfShares>25000.00000000</creationUnitNumOfShares>
        <averagePercentagePurchased>0.00000000</averagePercentagePurchased>
        <standardDeviationPurchased>0.00000000</standardDeviationPurchased>
        <creationUnitPurchasedInKind>0.00000000</creationUnitPurchasedInKind>
        <creationUnitPurchasedSDInKind>0.00000000</creationUnitPurchasedSDInKind>
        <averagePercentageRedeemed>0.00000000</averagePercentageRedeemed>
        <percentSDRedeemed>0.00000000</percentSDRedeemed>
        <creationUnitPercentageRedeemedInKind>0.00000000</creationUnitPercentageRedeemedInKind>
        <creationUnitSDRedeemedInKind>0.00000000</creationUnitSDRedeemedInKind>
        <creationUnitTransactionFeePerUnit>N/A</creationUnitTransactionFeePerUnit>
        <creationUnitTransactionFeeManyUnits>0.00000000</creationUnitTransactionFeeManyUnits>
        <creationUnitTransactionFeePercentagePerUnit>0.00000000</creationUnitTransactionFeePercentagePerUnit>
        <creationUnitTransactionFeeCashPerUnit>N/A</creationUnitTransactionFeeCashPerUnit>
        <creationUnitTransactionFeeCashManyUnits>0.00000000</creationUnitTransactionFeeCashManyUnits>
        <creationUnitTransactionFeeCashPercentagePerUnit>0.00000000</creationUnitTransactionFeeCashPercentagePerUnit>
        <purchaseCreationUnitDollarPerUnit>N/A</purchaseCreationUnitDollarPerUnit>
        <purchaseCreationUnitDollarPerMoreUnits>0.00000000</purchaseCreationUnitDollarPerMoreUnits>
        <purchaseCreationUnitDollarPercentagePerUnit>0.00000000</purchaseCreationUnitDollarPercentagePerUnit>
        <purchaseCreationUnitCashPerUnit>N/A</purchaseCreationUnitCashPerUnit>
        <purchaseCreationUnitCashPerMoreUnits>0.00000000</purchaseCreationUnitCashPerMoreUnits>
        <purchaseCreationUnitCashPercentagePerUnit>0.00000000</purchaseCreationUnitCashPercentagePerUnit>
        <isInKindETF>N</isInKindETF>
      </exchangeTradedFund>
      <exchangeTradedFund>
        <fundName>JPMorgan International Bond Opportunities ETF</fundName>
        <etfSeriesId>S000054802</etfSeriesId>
        <securityExchanges>
          <securityExchange fundExchange="CBSX" fundsTickerSymbol="JPIB"/>
        </securityExchanges>
        <authorizedParticipants>
          <authorizedParticipant authorizedParticipantName="Barclays Capital, Inc." authorizedParticipantFileNo="8-41342" authorizedParticipantCrdNo="000019714" authorizedParticipantLei="AC28XWWI3WIBK2824319" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Credit Suisse Securities (USA) LLC" authorizedParticipantFileNo="8-00422" authorizedParticipantCrdNo="000000816" authorizedParticipantLei="1V8Y6QCX6YMJ2OELII46" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="BofA Securities, Inc." authorizedParticipantFileNo="8-69787" authorizedParticipantCrdNo="000283942" authorizedParticipantLei="549300HN4UKV1E2R3U73" authorizedParticipantPurchaseValue="66420834.20" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Jane Street Capital, LLC" authorizedParticipantFileNo="8-52275" authorizedParticipantCrdNo="000103782" authorizedParticipantLei="549300ZM16HMPEPNV857" authorizedParticipantPurchaseValue="15248997.76" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Citigroup Global Markets Inc." authorizedParticipantFileNo="8-08177" authorizedParticipantCrdNo="000007059" authorizedParticipantLei="MBNUM2BPBDO7JBLYG310" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Goldman Sachs &amp; Co. LLC" authorizedParticipantFileNo="8-00129" authorizedParticipantCrdNo="000000361" authorizedParticipantLei="FOR8UP27PHTHYVLBNG30" authorizedParticipantPurchaseValue="5095975.21" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="UBS Securities LLC" authorizedParticipantFileNo="8-22651" authorizedParticipantCrdNo="000007654" authorizedParticipantLei="T6FIZBDPKLYJKFCRVK44" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Morgan Stanley &amp; Co. LLC" authorizedParticipantFileNo="8-15869" authorizedParticipantCrdNo="000008209" authorizedParticipantLei="9R7GPTSO7KV3UQJZQ078" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Mizuho Securities USA LLC" authorizedParticipantFileNo="8-37710" authorizedParticipantCrdNo="000019647" authorizedParticipantLei="7TK5RJIZDFROZCA6XF66" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="RBC Capital Markets, LLC" authorizedParticipantFileNo="8-45411" authorizedParticipantCrdNo="000031194" authorizedParticipantLei="549300LCO2FLSSVFFR64" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="BNP Paribas Securities Corp" authorizedParticipantFileNo="8-32682" authorizedParticipantCrdNo="000015794" authorizedParticipantLei="RCNB6OTYUAMMP879YW96" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="BNY Mellon Capital Markets, LLC" authorizedParticipantFileNo="8-35255" authorizedParticipantCrdNo="000017454" authorizedParticipantLei="VJW2DOOHGDT6PR0ZRO63" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Virtu Americas LLC" authorizedParticipantFileNo="8-68193" authorizedParticipantCrdNo="000149823" authorizedParticipantLei="549300RA02N3BNSWBV74" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="SG Americas Securities, LLC" authorizedParticipantFileNo="8-66125" authorizedParticipantCrdNo="000128351" authorizedParticipantLei="549300F35UE0BOM1WJ55" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
        </authorizedParticipants>
        <isCollateralRequired>N</isCollateralRequired>
        <creationUnitNumOfShares>100000.00000000</creationUnitNumOfShares>
        <averagePercentagePurchased>100.00000000</averagePercentagePurchased>
        <standardDeviationPurchased>0.00000000</standardDeviationPurchased>
        <creationUnitPurchasedInKind>0.00000000</creationUnitPurchasedInKind>
        <creationUnitPurchasedSDInKind>0.00000000</creationUnitPurchasedSDInKind>
        <averagePercentageRedeemed>0.00000000</averagePercentageRedeemed>
        <percentSDRedeemed>0.00000000</percentSDRedeemed>
        <creationUnitPercentageRedeemedInKind>0.00000000</creationUnitPercentageRedeemedInKind>
        <creationUnitSDRedeemedInKind>0.00000000</creationUnitSDRedeemedInKind>
        <creationUnitTransactionFeePerUnit>N/A</creationUnitTransactionFeePerUnit>
        <creationUnitTransactionFeeManyUnits>1400.00000000</creationUnitTransactionFeeManyUnits>
        <creationUnitTransactionFeePercentagePerUnit>0.00003133</creationUnitTransactionFeePercentagePerUnit>
        <creationUnitTransactionFeeCashPerUnit>N/A</creationUnitTransactionFeeCashPerUnit>
        <creationUnitTransactionFeeCashManyUnits>1400.00000000</creationUnitTransactionFeeCashManyUnits>
        <creationUnitTransactionFeeCashPercentagePerUnit>0.00003133</creationUnitTransactionFeeCashPercentagePerUnit>
        <purchaseCreationUnitDollarPerUnit>N/A</purchaseCreationUnitDollarPerUnit>
        <purchaseCreationUnitDollarPerMoreUnits>0.00000000</purchaseCreationUnitDollarPerMoreUnits>
        <purchaseCreationUnitDollarPercentagePerUnit>0.00000000</purchaseCreationUnitDollarPercentagePerUnit>
        <purchaseCreationUnitCashPerUnit>N/A</purchaseCreationUnitCashPerUnit>
        <purchaseCreationUnitCashPerMoreUnits>0.00000000</purchaseCreationUnitCashPerMoreUnits>
        <purchaseCreationUnitCashPercentagePerUnit>0.00000000</purchaseCreationUnitCashPercentagePerUnit>
        <isInKindETF>N</isInKindETF>
      </exchangeTradedFund>
      <exchangeTradedFund>
        <fundName>JPMorgan Ultra-Short Income ETF</fundName>
        <etfSeriesId>S000054790</etfSeriesId>
        <securityExchanges>
          <securityExchange fundExchange="CBSX" fundsTickerSymbol="JPST"/>
        </securityExchanges>
        <authorizedParticipants>
          <authorizedParticipant authorizedParticipantName="Barclays Capital, Inc." authorizedParticipantFileNo="8-41342" authorizedParticipantCrdNo="000019714" authorizedParticipantLei="AC28XWWI3WIBK2824319" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Jane Street Capital, LLC" authorizedParticipantFileNo="8-52275" authorizedParticipantCrdNo="000103782" authorizedParticipantLei="549300ZM16HMPEPNV857" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="RBC Capital Markets, LLC" authorizedParticipantFileNo="8-45411" authorizedParticipantCrdNo="000031194" authorizedParticipantLei="549300LCO2FLSSVFFR64" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Virtu Americas LLC" authorizedParticipantFileNo="8-68193" authorizedParticipantCrdNo="000149823" authorizedParticipantLei="549300RA02N3BNSWBV74" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="17685849.11"/>
          <authorizedParticipant authorizedParticipantName="Credit Suisse Securities (USA) LLC" authorizedParticipantFileNo="8-00422" authorizedParticipantCrdNo="000000816" authorizedParticipantLei="1V8Y6QCX6YMJ2OELII46" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Goldman Sachs &amp; Co. LLC" authorizedParticipantFileNo="8-00129" authorizedParticipantCrdNo="000000361" authorizedParticipantLei="FOR8UP27PHTHYVLBNG30" authorizedParticipantPurchaseValue="952325934.65" authorizedParticipantRedeemValue="70606728.91"/>
          <authorizedParticipant authorizedParticipantName="Morgan Stanley &amp; Co. LLC" authorizedParticipantFileNo="8-15869" authorizedParticipantCrdNo="000008209" authorizedParticipantLei="9R7GPTSO7KV3UQJZQ078" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="SG Americas Securities, LLC" authorizedParticipantFileNo="8-66125" authorizedParticipantCrdNo="000128351" authorizedParticipantLei="549300F35UE0BOM1WJ55" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="BNP Paribas Securities Corp" authorizedParticipantFileNo="8-32682" authorizedParticipantCrdNo="000015794" authorizedParticipantLei="RCNB6OTYUAMMP879YW96" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Wells Fargo Securities, LLC" authorizedParticipantFileNo="8-65876" authorizedParticipantCrdNo="000126292" authorizedParticipantLei="VYVVCKR63DVZZN70PB21" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Citigroup Global Markets Inc." authorizedParticipantFileNo="8-08177" authorizedParticipantCrdNo="000007059" authorizedParticipantLei="MBNUM2BPBDO7JBLYG310" authorizedParticipantPurchaseValue="343691200.42" authorizedParticipantRedeemValue="30280151.87"/>
          <authorizedParticipant authorizedParticipantName="UBS Securities LLC" authorizedParticipantFileNo="8-22651" authorizedParticipantCrdNo="000007654" authorizedParticipantLei="T6FIZBDPKLYJKFCRVK44" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Mizuho Securities USA LLC" authorizedParticipantFileNo="8-37710" authorizedParticipantCrdNo="000019647" authorizedParticipantLei="7TK5RJIZDFROZCA6XF66" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="BofA Securities, Inc." authorizedParticipantFileNo="8-69787" authorizedParticipantCrdNo="000283942" authorizedParticipantLei="549300HN4UKV1E2R3U73" authorizedParticipantPurchaseValue="2073323034.99" authorizedParticipantRedeemValue="525396692.85"/>
          <authorizedParticipant authorizedParticipantName="BNY Mellon Capital Markets, LLC" authorizedParticipantFileNo="8-35255" authorizedParticipantCrdNo="000017454" authorizedParticipantLei="VJW2DOOHGDT6PR0ZRO63" authorizedParticipantPurchaseValue="60626848.34" authorizedParticipantRedeemValue="91000263.75"/>
        </authorizedParticipants>
        <isCollateralRequired>N</isCollateralRequired>
        <creationUnitNumOfShares>50000.00000000</creationUnitNumOfShares>
        <averagePercentagePurchased>100.00000000</averagePercentagePurchased>
        <standardDeviationPurchased>0.00000000</standardDeviationPurchased>
        <creationUnitPurchasedInKind>0.00000000</creationUnitPurchasedInKind>
        <creationUnitPurchasedSDInKind>0.00000000</creationUnitPurchasedSDInKind>
        <averagePercentageRedeemed>100.00000000</averagePercentageRedeemed>
        <percentSDRedeemed>0.00000000</percentSDRedeemed>
        <creationUnitPercentageRedeemedInKind>0.00000000</creationUnitPercentageRedeemedInKind>
        <creationUnitSDRedeemedInKind>0.00000000</creationUnitSDRedeemedInKind>
        <creationUnitTransactionFeePerUnit>N/A</creationUnitTransactionFeePerUnit>
        <creationUnitTransactionFeeManyUnits>339.06250000</creationUnitTransactionFeeManyUnits>
        <creationUnitTransactionFeePercentagePerUnit>0.00000484</creationUnitTransactionFeePercentagePerUnit>
        <creationUnitTransactionFeeCashPerUnit>N/A</creationUnitTransactionFeeCashPerUnit>
        <creationUnitTransactionFeeCashManyUnits>339.06250000</creationUnitTransactionFeeCashManyUnits>
        <creationUnitTransactionFeeCashPercentagePerUnit>0.00000484</creationUnitTransactionFeeCashPercentagePerUnit>
        <purchaseCreationUnitDollarPerUnit>N/A</purchaseCreationUnitDollarPerUnit>
        <purchaseCreationUnitDollarPerMoreUnits>350.00000000</purchaseCreationUnitDollarPerMoreUnits>
        <purchaseCreationUnitDollarPercentagePerUnit>0.00000000</purchaseCreationUnitDollarPercentagePerUnit>
        <purchaseCreationUnitCashPerUnit>N/A</purchaseCreationUnitCashPerUnit>
        <purchaseCreationUnitCashPerMoreUnits>350.00000000</purchaseCreationUnitCashPerMoreUnits>
        <purchaseCreationUnitCashPercentagePerUnit>0.00000000</purchaseCreationUnitCashPercentagePerUnit>
        <isInKindETF>N</isInKindETF>
      </exchangeTradedFund>
      <exchangeTradedFund>
        <fundName>JPMorgan Municipal ETF</fundName>
        <etfSeriesId>S000063268</etfSeriesId>
        <securityExchanges>
          <securityExchange fundExchange="CBSX" fundsTickerSymbol="JMUB"/>
        </securityExchanges>
        <authorizedParticipants>
          <authorizedParticipant authorizedParticipantName="BofA Securities, Inc." authorizedParticipantFileNo="8-69787" authorizedParticipantCrdNo="000283942" authorizedParticipantLei="549300HN4UKV1E2R3U73" authorizedParticipantPurchaseValue="35524578.32" authorizedParticipantRedeemValue="8204960.84"/>
          <authorizedParticipant authorizedParticipantName="Virtu Americas LLC" authorizedParticipantFileNo="8-68193" authorizedParticipantCrdNo="000149823" authorizedParticipantLei="549300RA02N3BNSWBV74" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="SG Americas Securities, LLC" authorizedParticipantFileNo="8-66125" authorizedParticipantCrdNo="000128351" authorizedParticipantLei="549300F35UE0BOM1WJ55" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Morgan Stanley &amp; Co. LLC" authorizedParticipantFileNo="8-15869" authorizedParticipantCrdNo="000008209" authorizedParticipantLei="9R7GPTSO7KV3UQJZQ078" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="RBC Capital Markets, LLC" authorizedParticipantFileNo="8-45411" authorizedParticipantCrdNo="000031194" authorizedParticipantLei="549300LCO2FLSSVFFR64" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Barclays Capital, Inc." authorizedParticipantFileNo="8-41342" authorizedParticipantCrdNo="000019714" authorizedParticipantLei="AC28XWWI3WIBK2824319" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Credit Suisse Securities (USA) LLC" authorizedParticipantFileNo="8-00422" authorizedParticipantCrdNo="000000816" authorizedParticipantLei="1V8Y6QCX6YMJ2OELII46" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Wells Fargo Securities, LLC" authorizedParticipantFileNo="8-65876" authorizedParticipantCrdNo="000126292" authorizedParticipantLei="VYVVCKR63DVZZN70PB21" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="UBS Securities LLC" authorizedParticipantFileNo="8-22651" authorizedParticipantCrdNo="000007654" authorizedParticipantLei="T6FIZBDPKLYJKFCRVK44" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Goldman Sachs &amp; Co. LLC" authorizedParticipantFileNo="8-00129" authorizedParticipantCrdNo="000000361" authorizedParticipantLei="FOR8UP27PHTHYVLBNG30" authorizedParticipantPurchaseValue="5485804.38" authorizedParticipantRedeemValue="5332107.90"/>
          <authorizedParticipant authorizedParticipantName="Mizuho Securities USA LLC" authorizedParticipantFileNo="8-37710" authorizedParticipantCrdNo="000019647" authorizedParticipantLei="7TK5RJIZDFROZCA6XF66" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Citigroup Global Markets Inc." authorizedParticipantFileNo="8-08177" authorizedParticipantCrdNo="000007059" authorizedParticipantLei="MBNUM2BPBDO7JBLYG310" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="BNP Paribas Securities Corp" authorizedParticipantFileNo="8-32682" authorizedParticipantCrdNo="000015794" authorizedParticipantLei="RCNB6OTYUAMMP879YW96" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="BNY Mellon Capital Markets, LLC" authorizedParticipantFileNo="8-35255" authorizedParticipantCrdNo="000017454" authorizedParticipantLei="VJW2DOOHGDT6PR0ZRO63" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Jane Street Capital, LLC" authorizedParticipantFileNo="8-52275" authorizedParticipantCrdNo="000103782" authorizedParticipantLei="549300ZM16HMPEPNV857" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
        </authorizedParticipants>
        <isCollateralRequired>N</isCollateralRequired>
        <creationUnitNumOfShares>50000.00000000</creationUnitNumOfShares>
        <averagePercentagePurchased>100.00000000</averagePercentagePurchased>
        <standardDeviationPurchased>0.00000000</standardDeviationPurchased>
        <creationUnitPurchasedInKind>0.00000000</creationUnitPurchasedInKind>
        <creationUnitPurchasedSDInKind>0.00000000</creationUnitPurchasedSDInKind>
        <averagePercentageRedeemed>100.00000000</averagePercentageRedeemed>
        <percentSDRedeemed>0.00000000</percentSDRedeemed>
        <creationUnitPercentageRedeemedInKind>0.00000000</creationUnitPercentageRedeemedInKind>
        <creationUnitSDRedeemedInKind>0.00000000</creationUnitSDRedeemedInKind>
        <creationUnitTransactionFeePerUnit>N/A</creationUnitTransactionFeePerUnit>
        <creationUnitTransactionFeeManyUnits>500.00000000</creationUnitTransactionFeeManyUnits>
        <creationUnitTransactionFeePercentagePerUnit>0.00000500</creationUnitTransactionFeePercentagePerUnit>
        <creationUnitTransactionFeeCashPerUnit>N/A</creationUnitTransactionFeeCashPerUnit>
        <creationUnitTransactionFeeCashManyUnits>500.00000000</creationUnitTransactionFeeCashManyUnits>
        <creationUnitTransactionFeeCashPercentagePerUnit>0.00000500</creationUnitTransactionFeeCashPercentagePerUnit>
        <purchaseCreationUnitDollarPerUnit>N/A</purchaseCreationUnitDollarPerUnit>
        <purchaseCreationUnitDollarPerMoreUnits>500.00000000</purchaseCreationUnitDollarPerMoreUnits>
        <purchaseCreationUnitDollarPercentagePerUnit>0.00001500</purchaseCreationUnitDollarPercentagePerUnit>
        <purchaseCreationUnitCashPerUnit>N/A</purchaseCreationUnitCashPerUnit>
        <purchaseCreationUnitCashPerMoreUnits>500.00000000</purchaseCreationUnitCashPerMoreUnits>
        <purchaseCreationUnitCashPercentagePerUnit>0.00001500</purchaseCreationUnitCashPercentagePerUnit>
        <isInKindETF>N</isInKindETF>
      </exchangeTradedFund>
      <exchangeTradedFund>
        <fundName>JPMorgan U.S. Aggregate Bond ETF</fundName>
        <etfSeriesId>S000063668</etfSeriesId>
        <securityExchanges>
          <securityExchange fundExchange="ARCX" fundsTickerSymbol="JAGG"/>
        </securityExchanges>
        <authorizedParticipants>
          <authorizedParticipant authorizedParticipantName="BNY Mellon Capital Markets, LLC" authorizedParticipantFileNo="8-35255" authorizedParticipantCrdNo="000017454" authorizedParticipantLei="VJW2DOOHGDT6PR0ZRO63" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Jane Street Capital, LLC" authorizedParticipantFileNo="8-52275" authorizedParticipantCrdNo="000103782" authorizedParticipantLei="549300ZM16HMPEPNV857" authorizedParticipantPurchaseValue="236124466.54" authorizedParticipantRedeemValue="166676298.63"/>
          <authorizedParticipant authorizedParticipantName="Goldman Sachs &amp; Co. LLC" authorizedParticipantFileNo="8-00129" authorizedParticipantCrdNo="000000361" authorizedParticipantLei="FOR8UP27PHTHYVLBNG30" authorizedParticipantPurchaseValue="224162700.25" authorizedParticipantRedeemValue="133231847.17"/>
          <authorizedParticipant authorizedParticipantName="Virtu Americas LLC" authorizedParticipantFileNo="8-68193" authorizedParticipantCrdNo="000149823" authorizedParticipantLei="549300RA02N3BNSWBV74" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="SG Americas Securities, LLC" authorizedParticipantFileNo="8-66125" authorizedParticipantCrdNo="000128351" authorizedParticipantLei="549300F35UE0BOM1WJ55" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="BofA Securities, Inc." authorizedParticipantFileNo="8-69787" authorizedParticipantCrdNo="000283942" authorizedParticipantLei="549300HN4UKV1E2R3U73" authorizedParticipantPurchaseValue="236266885.35" authorizedParticipantRedeemValue="154703329.32"/>
          <authorizedParticipant authorizedParticipantName="UBS Securities LLC" authorizedParticipantFileNo="8-22651" authorizedParticipantCrdNo="000007654" authorizedParticipantLei="T6FIZBDPKLYJKFCRVK44" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Mizuho Securities USA LLC" authorizedParticipantFileNo="8-37710" authorizedParticipantCrdNo="000019647" authorizedParticipantLei="7TK5RJIZDFROZCA6XF66" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Citigroup Global Markets Inc." authorizedParticipantFileNo="8-08177" authorizedParticipantCrdNo="000007059" authorizedParticipantLei="MBNUM2BPBDO7JBLYG310" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="RBC Capital Markets, LLC" authorizedParticipantFileNo="8-45411" authorizedParticipantCrdNo="000031194" authorizedParticipantLei="549300LCO2FLSSVFFR64" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Wells Fargo Securities, LLC" authorizedParticipantFileNo="8-65876" authorizedParticipantCrdNo="000126292" authorizedParticipantLei="VYVVCKR63DVZZN70PB21" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="BNP Paribas Securities Corp" authorizedParticipantFileNo="8-32682" authorizedParticipantCrdNo="000015794" authorizedParticipantLei="RCNB6OTYUAMMP879YW96" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Barclays Capital, Inc." authorizedParticipantFileNo="8-41342" authorizedParticipantCrdNo="000019714" authorizedParticipantLei="AC28XWWI3WIBK2824319" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Credit Suisse Securities (USA) LLC" authorizedParticipantFileNo="8-00422" authorizedParticipantCrdNo="000000816" authorizedParticipantLei="1V8Y6QCX6YMJ2OELII46" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Morgan Stanley &amp; Co. LLC" authorizedParticipantFileNo="8-15869" authorizedParticipantCrdNo="000008209" authorizedParticipantLei="9R7GPTSO7KV3UQJZQ078" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
        </authorizedParticipants>
        <isCollateralRequired>N</isCollateralRequired>
        <creationUnitNumOfShares>25000.00000000</creationUnitNumOfShares>
        <averagePercentagePurchased>33.37000000</averagePercentagePurchased>
        <standardDeviationPurchased>20.54000000</standardDeviationPurchased>
        <creationUnitPurchasedInKind>66.63000000</creationUnitPurchasedInKind>
        <creationUnitPurchasedSDInKind>20.54000000</creationUnitPurchasedSDInKind>
        <averagePercentageRedeemed>32.96000000</averagePercentageRedeemed>
        <percentSDRedeemed>12.54000000</percentSDRedeemed>
        <creationUnitPercentageRedeemedInKind>67.04000000</creationUnitPercentageRedeemedInKind>
        <creationUnitSDRedeemedInKind>12.54000000</creationUnitSDRedeemedInKind>
        <creationUnitTransactionFeePerUnit>N/A</creationUnitTransactionFeePerUnit>
        <creationUnitTransactionFeeManyUnits>400.00000000</creationUnitTransactionFeeManyUnits>
        <creationUnitTransactionFeePercentagePerUnit>0.00000000</creationUnitTransactionFeePercentagePerUnit>
        <creationUnitTransactionFeeCashPerUnit>N/A</creationUnitTransactionFeeCashPerUnit>
        <creationUnitTransactionFeeCashManyUnits>400.00000000</creationUnitTransactionFeeCashManyUnits>
        <creationUnitTransactionFeeCashPercentagePerUnit>0.00000000</creationUnitTransactionFeeCashPercentagePerUnit>
        <purchaseCreationUnitDollarPerUnit>N/A</purchaseCreationUnitDollarPerUnit>
        <purchaseCreationUnitDollarPerMoreUnits>400.00000000</purchaseCreationUnitDollarPerMoreUnits>
        <purchaseCreationUnitDollarPercentagePerUnit>0.00000000</purchaseCreationUnitDollarPercentagePerUnit>
        <purchaseCreationUnitCashPerUnit>N/A</purchaseCreationUnitCashPerUnit>
        <purchaseCreationUnitCashPerMoreUnits>400.00000000</purchaseCreationUnitCashPerMoreUnits>
        <purchaseCreationUnitCashPercentagePerUnit>0.00000000</purchaseCreationUnitCashPercentagePerUnit>
        <isInKindETF>N</isInKindETF>
      </exchangeTradedFund>
      <exchangeTradedFund>
        <fundName>JPMorgan USD Emerging Markets Sovereign Bond ETF</fundName>
        <etfSeriesId>S000060180</etfSeriesId>
        <securityExchanges>
          <securityExchange fundExchange="ARCX" fundsTickerSymbol="JPMB"/>
        </securityExchanges>
        <authorizedParticipants>
          <authorizedParticipant authorizedParticipantName="Credit Suisse Securities (USA) LLC" authorizedParticipantFileNo="8-00422" authorizedParticipantCrdNo="000000816" authorizedParticipantLei="1V8Y6QCX6YMJ2OELII46" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="SG Americas Securities, LLC" authorizedParticipantFileNo="8-66125" authorizedParticipantCrdNo="000128351" authorizedParticipantLei="549300F35UE0BOM1WJ55" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="BofA Securities, Inc." authorizedParticipantFileNo="8-69787" authorizedParticipantCrdNo="000283942" authorizedParticipantLei="549300HN4UKV1E2R3U73" authorizedParticipantPurchaseValue="24332251.10" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Morgan Stanley &amp; Co. LLC" authorizedParticipantFileNo="8-15869" authorizedParticipantCrdNo="000008209" authorizedParticipantLei="9R7GPTSO7KV3UQJZQ078" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Jane Street Capital, LLC" authorizedParticipantFileNo="8-52275" authorizedParticipantCrdNo="000103782" authorizedParticipantLei="549300ZM16HMPEPNV857" authorizedParticipantPurchaseValue="14687526.58" authorizedParticipantRedeemValue="43995744.32"/>
          <authorizedParticipant authorizedParticipantName="Wells Fargo Securities, LLC" authorizedParticipantFileNo="8-65876" authorizedParticipantCrdNo="000126292" authorizedParticipantLei="VYVVCKR63DVZZN70PB21" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Virtu Americas LLC" authorizedParticipantFileNo="8-68193" authorizedParticipantCrdNo="000149823" authorizedParticipantLei="549300RA02N3BNSWBV74" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Barclays Capital, Inc." authorizedParticipantFileNo="8-41342" authorizedParticipantCrdNo="000019714" authorizedParticipantLei="AC28XWWI3WIBK2824319" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="UBS Securities LLC" authorizedParticipantFileNo="8-22651" authorizedParticipantCrdNo="000007654" authorizedParticipantLei="T6FIZBDPKLYJKFCRVK44" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="RBC Capital Markets, LLC" authorizedParticipantFileNo="8-45411" authorizedParticipantCrdNo="000031194" authorizedParticipantLei="549300LCO2FLSSVFFR64" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Citigroup Global Markets Inc." authorizedParticipantFileNo="8-08177" authorizedParticipantCrdNo="000007059" authorizedParticipantLei="MBNUM2BPBDO7JBLYG310" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Mizuho Securities USA LLC" authorizedParticipantFileNo="8-37710" authorizedParticipantCrdNo="000019647" authorizedParticipantLei="7TK5RJIZDFROZCA6XF66" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="BNY Mellon Capital Markets, LLC" authorizedParticipantFileNo="8-35255" authorizedParticipantCrdNo="000017454" authorizedParticipantLei="VJW2DOOHGDT6PR0ZRO63" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Goldman Sachs &amp; Co. LLC" authorizedParticipantFileNo="8-00129" authorizedParticipantCrdNo="000000361" authorizedParticipantLei="FOR8UP27PHTHYVLBNG30" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="BNP Paribas Securities Corp" authorizedParticipantFileNo="8-32682" authorizedParticipantCrdNo="000015794" authorizedParticipantLei="RCNB6OTYUAMMP879YW96" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
        </authorizedParticipants>
        <isCollateralRequired>N</isCollateralRequired>
        <creationUnitNumOfShares>100000.00000000</creationUnitNumOfShares>
        <averagePercentagePurchased>25.18000000</averagePercentagePurchased>
        <standardDeviationPurchased>49.88000000</standardDeviationPurchased>
        <creationUnitPurchasedInKind>74.82000000</creationUnitPurchasedInKind>
        <creationUnitPurchasedSDInKind>49.88000000</creationUnitPurchasedSDInKind>
        <averagePercentageRedeemed>1.90000000</averagePercentageRedeemed>
        <percentSDRedeemed>1.89000000</percentSDRedeemed>
        <creationUnitPercentageRedeemedInKind>98.10000000</creationUnitPercentageRedeemedInKind>
        <creationUnitSDRedeemedInKind>1.89000000</creationUnitSDRedeemedInKind>
        <creationUnitTransactionFeePerUnit>N/A</creationUnitTransactionFeePerUnit>
        <creationUnitTransactionFeeManyUnits>500.00000000</creationUnitTransactionFeeManyUnits>
        <creationUnitTransactionFeePercentagePerUnit>0.00000000</creationUnitTransactionFeePercentagePerUnit>
        <creationUnitTransactionFeeCashPerUnit>N/A</creationUnitTransactionFeeCashPerUnit>
        <creationUnitTransactionFeeCashManyUnits>500.00000000</creationUnitTransactionFeeCashManyUnits>
        <creationUnitTransactionFeeCashPercentagePerUnit>0.00000000</creationUnitTransactionFeeCashPercentagePerUnit>
        <purchaseCreationUnitDollarPerUnit>N/A</purchaseCreationUnitDollarPerUnit>
        <purchaseCreationUnitDollarPerMoreUnits>500.00000000</purchaseCreationUnitDollarPerMoreUnits>
        <purchaseCreationUnitDollarPercentagePerUnit>0.00000000</purchaseCreationUnitDollarPercentagePerUnit>
        <purchaseCreationUnitCashPerUnit>N/A</purchaseCreationUnitCashPerUnit>
        <purchaseCreationUnitCashPerMoreUnits>500.00000000</purchaseCreationUnitCashPerMoreUnits>
        <purchaseCreationUnitCashPercentagePerUnit>0.00000000</purchaseCreationUnitCashPercentagePerUnit>
        <isInKindETF>N</isInKindETF>
      </exchangeTradedFund>
      <exchangeTradedFund>
        <fundName>JPMorgan Core Plus Bond ETF</fundName>
        <etfSeriesId>S000063265</etfSeriesId>
        <securityExchanges>
          <securityExchange fundExchange="CBSX" fundsTickerSymbol="JCPB"/>
        </securityExchanges>
        <authorizedParticipants>
          <authorizedParticipant authorizedParticipantName="BofA Securities, Inc." authorizedParticipantFileNo="8-69787" authorizedParticipantCrdNo="000283942" authorizedParticipantLei="549300HN4UKV1E2R3U73" authorizedParticipantPurchaseValue="80297392.38" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Mizuho Securities USA LLC" authorizedParticipantFileNo="8-37710" authorizedParticipantCrdNo="000019647" authorizedParticipantLei="7TK5RJIZDFROZCA6XF66" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Credit Suisse Securities (USA) LLC" authorizedParticipantFileNo="8-00422" authorizedParticipantCrdNo="000000816" authorizedParticipantLei="1V8Y6QCX6YMJ2OELII46" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="BNY Mellon Capital Markets, LLC" authorizedParticipantFileNo="8-35255" authorizedParticipantCrdNo="000017454" authorizedParticipantLei="VJW2DOOHGDT6PR0ZRO63" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Jane Street Capital, LLC" authorizedParticipantFileNo="8-52275" authorizedParticipantCrdNo="000103782" authorizedParticipantLei="549300ZM16HMPEPNV857" authorizedParticipantPurchaseValue="32029236.82" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Goldman Sachs &amp; Co. LLC" authorizedParticipantFileNo="8-00129" authorizedParticipantCrdNo="000000361" authorizedParticipantLei="FOR8UP27PHTHYVLBNG30" authorizedParticipantPurchaseValue="26937945.78" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="BNP Paribas Securities Corp" authorizedParticipantFileNo="8-32682" authorizedParticipantCrdNo="000015794" authorizedParticipantLei="RCNB6OTYUAMMP879YW96" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Barclays Capital, Inc." authorizedParticipantFileNo="8-41342" authorizedParticipantCrdNo="000019714" authorizedParticipantLei="AC28XWWI3WIBK2824319" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Morgan Stanley &amp; Co. LLC" authorizedParticipantFileNo="8-15869" authorizedParticipantCrdNo="000008209" authorizedParticipantLei="9R7GPTSO7KV3UQJZQ078" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Virtu Americas LLC" authorizedParticipantFileNo="8-68193" authorizedParticipantCrdNo="000149823" authorizedParticipantLei="549300RA02N3BNSWBV74" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Wells Fargo Securities, LLC" authorizedParticipantFileNo="8-65876" authorizedParticipantCrdNo="000126292" authorizedParticipantLei="VYVVCKR63DVZZN70PB21" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="UBS Securities LLC" authorizedParticipantFileNo="8-22651" authorizedParticipantCrdNo="000007654" authorizedParticipantLei="T6FIZBDPKLYJKFCRVK44" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="RBC Capital Markets, LLC" authorizedParticipantFileNo="8-45411" authorizedParticipantCrdNo="000031194" authorizedParticipantLei="549300LCO2FLSSVFFR64" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Citigroup Global Markets Inc." authorizedParticipantFileNo="8-08177" authorizedParticipantCrdNo="000007059" authorizedParticipantLei="MBNUM2BPBDO7JBLYG310" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="SG Americas Securities, LLC" authorizedParticipantFileNo="8-66125" authorizedParticipantCrdNo="000128351" authorizedParticipantLei="549300F35UE0BOM1WJ55" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
        </authorizedParticipants>
        <isCollateralRequired>N</isCollateralRequired>
        <creationUnitNumOfShares>100000.00000000</creationUnitNumOfShares>
        <averagePercentagePurchased>100.00000000</averagePercentagePurchased>
        <standardDeviationPurchased>0.00000000</standardDeviationPurchased>
        <creationUnitPurchasedInKind>0.00000000</creationUnitPurchasedInKind>
        <creationUnitPurchasedSDInKind>0.00000000</creationUnitPurchasedSDInKind>
        <averagePercentageRedeemed>0.00000000</averagePercentageRedeemed>
        <percentSDRedeemed>0.00000000</percentSDRedeemed>
        <creationUnitPercentageRedeemedInKind>0.00000000</creationUnitPercentageRedeemedInKind>
        <creationUnitSDRedeemedInKind>0.00000000</creationUnitSDRedeemedInKind>
        <creationUnitTransactionFeePerUnit>N/A</creationUnitTransactionFeePerUnit>
        <creationUnitTransactionFeeManyUnits>730.43478260</creationUnitTransactionFeeManyUnits>
        <creationUnitTransactionFeePercentagePerUnit>0.00004391</creationUnitTransactionFeePercentagePerUnit>
        <creationUnitTransactionFeeCashPerUnit>N/A</creationUnitTransactionFeeCashPerUnit>
        <creationUnitTransactionFeeCashManyUnits>730.43478260</creationUnitTransactionFeeCashManyUnits>
        <creationUnitTransactionFeeCashPercentagePerUnit>0.00004391</creationUnitTransactionFeeCashPercentagePerUnit>
        <purchaseCreationUnitDollarPerUnit>N/A</purchaseCreationUnitDollarPerUnit>
        <purchaseCreationUnitDollarPerMoreUnits>0.00000000</purchaseCreationUnitDollarPerMoreUnits>
        <purchaseCreationUnitDollarPercentagePerUnit>0.00000000</purchaseCreationUnitDollarPercentagePerUnit>
        <purchaseCreationUnitCashPerUnit>N/A</purchaseCreationUnitCashPerUnit>
        <purchaseCreationUnitCashPerMoreUnits>0.00000000</purchaseCreationUnitCashPerMoreUnits>
        <purchaseCreationUnitCashPercentagePerUnit>0.00000000</purchaseCreationUnitCashPercentagePerUnit>
        <isInKindETF>N</isInKindETF>
      </exchangeTradedFund>
      <exchangeTradedFund>
        <fundName>JPMorgan BetaBuilders MSCI US REIT ETF</fundName>
        <etfSeriesId>S000061996</etfSeriesId>
        <securityExchanges>
          <securityExchange fundExchange="CBSX" fundsTickerSymbol="BBRE"/>
        </securityExchanges>
        <authorizedParticipants>
          <authorizedParticipant authorizedParticipantName="Credit Suisse Securities (USA) LLC" authorizedParticipantFileNo="8-00422" authorizedParticipantCrdNo="000000816" authorizedParticipantLei="1V8Y6QCX6YMJ2OELII46" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="SG Americas Securities, LLC" authorizedParticipantFileNo="8-66125" authorizedParticipantCrdNo="000128351" authorizedParticipantLei="549300F35UE0BOM1WJ55" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Barclays Capital, Inc." authorizedParticipantFileNo="8-41342" authorizedParticipantCrdNo="000019714" authorizedParticipantLei="AC28XWWI3WIBK2824319" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Citigroup Global Markets Inc." authorizedParticipantFileNo="8-08177" authorizedParticipantCrdNo="000007059" authorizedParticipantLei="MBNUM2BPBDO7JBLYG310" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Jefferies LLC" authorizedParticipantFileNo="8-15074" authorizedParticipantCrdNo="000002347" authorizedParticipantLei="58PU97L1C0WSRCWADL48" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Virtu Americas LLC" authorizedParticipantFileNo="8-68193" authorizedParticipantCrdNo="000149823" authorizedParticipantLei="549300RA02N3BNSWBV74" authorizedParticipantPurchaseValue="18524321.40" authorizedParticipantRedeemValue="10738733.86"/>
          <authorizedParticipant authorizedParticipantName="Merrill Lynch Professional Clearing Corp." authorizedParticipantFileNo="8-33359" authorizedParticipantCrdNo="000016139" authorizedParticipantLei="549300PMHS66E71I2D34" authorizedParticipantPurchaseValue="438394536.65" authorizedParticipantRedeemValue="237895688.06"/>
          <authorizedParticipant authorizedParticipantName="Jane Street Capital, LLC" authorizedParticipantFileNo="8-52275" authorizedParticipantCrdNo="000103782" authorizedParticipantLei="549300ZM16HMPEPNV857" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Citadel Securities LLC" authorizedParticipantFileNo="8-53574" authorizedParticipantCrdNo="000116797" authorizedParticipantLei="12UUJYTN7D3SW8KCSG25" authorizedParticipantPurchaseValue="23332856.91" authorizedParticipantRedeemValue="193416453.78"/>
          <authorizedParticipant authorizedParticipantName="RBC Capital Markets, LLC" authorizedParticipantFileNo="8-45411" authorizedParticipantCrdNo="000031194" authorizedParticipantLei="549300LCO2FLSSVFFR64" authorizedParticipantPurchaseValue="40108059.36" authorizedParticipantRedeemValue="49880029.17"/>
          <authorizedParticipant authorizedParticipantName="BNY Mellon Capital Markets, LLC" authorizedParticipantFileNo="8-35255" authorizedParticipantCrdNo="000017454" authorizedParticipantLei="VJW2DOOHGDT6PR0ZRO63" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="UBS Securities LLC" authorizedParticipantFileNo="8-22651" authorizedParticipantCrdNo="000007654" authorizedParticipantLei="T6FIZBDPKLYJKFCRVK44" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="ABN AMRO Chicago Clearing LLC" authorizedParticipantFileNo="8-34354" authorizedParticipantCrdNo="000014020" authorizedParticipantLei="549300U16G4LU3V6C598" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Wells Fargo Securities, LLC" authorizedParticipantFileNo="8-65876" authorizedParticipantCrdNo="000126292" authorizedParticipantLei="VYVVCKR63DVZZN70PB21" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Mizuho Securities USA LLC" authorizedParticipantFileNo="8-37710" authorizedParticipantCrdNo="000019647" authorizedParticipantLei="7TK5RJIZDFROZCA6XF66" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Morgan Stanley &amp; Co. LLC" authorizedParticipantFileNo="8-15869" authorizedParticipantCrdNo="000008209" authorizedParticipantLei="9R7GPTSO7KV3UQJZQ078" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Goldman Sachs &amp; Co. LLC" authorizedParticipantFileNo="8-00129" authorizedParticipantCrdNo="000000361" authorizedParticipantLei="FOR8UP27PHTHYVLBNG30" authorizedParticipantPurchaseValue="220718753.17" authorizedParticipantRedeemValue="94097063.76"/>
          <authorizedParticipant authorizedParticipantName="BNP Paribas Securities Corp" authorizedParticipantFileNo="8-32682" authorizedParticipantCrdNo="000015794" authorizedParticipantLei="RCNB6OTYUAMMP879YW96" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
        </authorizedParticipants>
        <isCollateralRequired>N</isCollateralRequired>
        <creationUnitNumOfShares>25000.00000000</creationUnitNumOfShares>
        <averagePercentagePurchased>1.31660594</averagePercentagePurchased>
        <standardDeviationPurchased>0.23539751</standardDeviationPurchased>
        <creationUnitPurchasedInKind>98.68339400</creationUnitPurchasedInKind>
        <creationUnitPurchasedSDInKind>0.23539747</creationUnitPurchasedSDInKind>
        <averagePercentageRedeemed>1.64433404</averagePercentageRedeemed>
        <percentSDRedeemed>1.02202214</percentSDRedeemed>
        <creationUnitPercentageRedeemedInKind>98.35566588</creationUnitPercentageRedeemedInKind>
        <creationUnitSDRedeemedInKind>1.02202208</creationUnitSDRedeemedInKind>
        <creationUnitTransactionFeePerUnit>N/A</creationUnitTransactionFeePerUnit>
        <creationUnitTransactionFeeManyUnits>700.00000000</creationUnitTransactionFeeManyUnits>
        <creationUnitTransactionFeePercentagePerUnit>0.00000000</creationUnitTransactionFeePercentagePerUnit>
        <creationUnitTransactionFeeCashPerUnit>N/A</creationUnitTransactionFeeCashPerUnit>
        <creationUnitTransactionFeeCashManyUnits>700.00000000</creationUnitTransactionFeeCashManyUnits>
        <creationUnitTransactionFeeCashPercentagePerUnit>0.00000000</creationUnitTransactionFeeCashPercentagePerUnit>
        <purchaseCreationUnitDollarPerUnit>N/A</purchaseCreationUnitDollarPerUnit>
        <purchaseCreationUnitDollarPerMoreUnits>700.00000000</purchaseCreationUnitDollarPerMoreUnits>
        <purchaseCreationUnitDollarPercentagePerUnit>0.00000000</purchaseCreationUnitDollarPercentagePerUnit>
        <purchaseCreationUnitCashPerUnit>N/A</purchaseCreationUnitCashPerUnit>
        <purchaseCreationUnitCashPerMoreUnits>700.00000000</purchaseCreationUnitCashPerMoreUnits>
        <purchaseCreationUnitCashPercentagePerUnit>0.00000000</purchaseCreationUnitCashPercentagePerUnit>
        <isInKindETF>Y</isInKindETF>
      </exchangeTradedFund>
      <exchangeTradedFund>
        <fundName>JPMorgan Income ETF</fundName>
        <etfSeriesId>S000072932</etfSeriesId>
        <securityExchanges>
          <securityExchange fundExchange="ARCX" fundsTickerSymbol="JPIE"/>
        </securityExchanges>
        <authorizedParticipants>
          <authorizedParticipant authorizedParticipantName="Morgan Stanley &amp; Co. LLC" authorizedParticipantFileNo="8-15869" authorizedParticipantCrdNo="000008209" authorizedParticipantLei="9R7GPTSO7KV3UQJZQ078" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Jane Street Capital, LLC" authorizedParticipantFileNo="8-52275" authorizedParticipantCrdNo="000103782" authorizedParticipantLei="549300ZM16HMPEPNV857" authorizedParticipantPurchaseValue="8884154.99" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Credit Suisse Securities (USA) LLC" authorizedParticipantFileNo="8-00422" authorizedParticipantCrdNo="000000816" authorizedParticipantLei="1V8Y6QCX6YMJ2OELII46" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Citigroup Global Markets Inc." authorizedParticipantFileNo="8-08177" authorizedParticipantCrdNo="000007059" authorizedParticipantLei="MBNUM2BPBDO7JBLYG310" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Barclays Capital, Inc." authorizedParticipantFileNo="8-41342" authorizedParticipantCrdNo="000019714" authorizedParticipantLei="AC28XWWI3WIBK2824319" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Goldman Sachs &amp; Co. LLC" authorizedParticipantFileNo="8-00129" authorizedParticipantCrdNo="000000361" authorizedParticipantLei="FOR8UP27PHTHYVLBNG30" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Virtu Americas LLC" authorizedParticipantFileNo="8-68193" authorizedParticipantCrdNo="000149823" authorizedParticipantLei="549300RA02N3BNSWBV74" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="SG Americas Securities, LLC" authorizedParticipantFileNo="8-66125" authorizedParticipantCrdNo="000128351" authorizedParticipantLei="549300F35UE0BOM1WJ55" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Wells Fargo Securities, LLC" authorizedParticipantFileNo="8-65876" authorizedParticipantCrdNo="000126292" authorizedParticipantLei="VYVVCKR63DVZZN70PB21" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="BNY Mellon Capital Markets, LLC" authorizedParticipantFileNo="8-35255" authorizedParticipantCrdNo="000017454" authorizedParticipantLei="VJW2DOOHGDT6PR0ZRO63" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="BNP Paribas Securities Corp" authorizedParticipantFileNo="8-32682" authorizedParticipantCrdNo="000015794" authorizedParticipantLei="RCNB6OTYUAMMP879YW96" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="RBC Capital Markets, LLC" authorizedParticipantFileNo="8-45411" authorizedParticipantCrdNo="000031194" authorizedParticipantLei="549300LCO2FLSSVFFR64" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="BofA Securities, Inc." authorizedParticipantFileNo="8-69787" authorizedParticipantCrdNo="000283942" authorizedParticipantLei="549300HN4UKV1E2R3U73" authorizedParticipantPurchaseValue="131653798.94" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Mizuho Securities USA LLC" authorizedParticipantFileNo="8-37710" authorizedParticipantCrdNo="000019647" authorizedParticipantLei="7TK5RJIZDFROZCA6XF66" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="UBS Securities LLC" authorizedParticipantFileNo="8-22651" authorizedParticipantCrdNo="000007654" authorizedParticipantLei="T6FIZBDPKLYJKFCRVK44" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
        </authorizedParticipants>
        <isCollateralRequired>N</isCollateralRequired>
        <creationUnitNumOfShares>30000.00000000</creationUnitNumOfShares>
        <averagePercentagePurchased>100.00000000</averagePercentagePurchased>
        <standardDeviationPurchased>0.00000000</standardDeviationPurchased>
        <creationUnitPurchasedInKind>0.00000000</creationUnitPurchasedInKind>
        <creationUnitPurchasedSDInKind>0.00000000</creationUnitPurchasedSDInKind>
        <averagePercentageRedeemed>0.00000000</averagePercentageRedeemed>
        <percentSDRedeemed>0.00000000</percentSDRedeemed>
        <creationUnitPercentageRedeemedInKind>0.00000000</creationUnitPercentageRedeemedInKind>
        <creationUnitSDRedeemedInKind>0.00000000</creationUnitSDRedeemedInKind>
        <creationUnitTransactionFeePerUnit>N/A</creationUnitTransactionFeePerUnit>
        <creationUnitTransactionFeeManyUnits>540.00000000</creationUnitTransactionFeeManyUnits>
        <creationUnitTransactionFeePercentagePerUnit>0.00004669</creationUnitTransactionFeePercentagePerUnit>
        <creationUnitTransactionFeeCashPerUnit>N/A</creationUnitTransactionFeeCashPerUnit>
        <creationUnitTransactionFeeCashManyUnits>540.00000000</creationUnitTransactionFeeCashManyUnits>
        <creationUnitTransactionFeeCashPercentagePerUnit>0.00004669</creationUnitTransactionFeeCashPercentagePerUnit>
        <purchaseCreationUnitDollarPerUnit>N/A</purchaseCreationUnitDollarPerUnit>
        <purchaseCreationUnitDollarPerMoreUnits>0.00000000</purchaseCreationUnitDollarPerMoreUnits>
        <purchaseCreationUnitDollarPercentagePerUnit>0.00000000</purchaseCreationUnitDollarPercentagePerUnit>
        <purchaseCreationUnitCashPerUnit>N/A</purchaseCreationUnitCashPerUnit>
        <purchaseCreationUnitCashPerMoreUnits>0.00000000</purchaseCreationUnitCashPerMoreUnits>
        <purchaseCreationUnitCashPercentagePerUnit>0.00000000</purchaseCreationUnitCashPercentagePerUnit>
        <isInKindETF>N</isInKindETF>
      </exchangeTradedFund>
      <exchangeTradedFund>
        <fundName>JPMorgan Short Duration Core Plus ETF</fundName>
        <etfSeriesId>S000071090</etfSeriesId>
        <securityExchanges>
          <securityExchange fundExchange="ARCX" fundsTickerSymbol="JSCP"/>
        </securityExchanges>
        <authorizedParticipants>
          <authorizedParticipant authorizedParticipantName="Mizuho Securities USA LLC" authorizedParticipantFileNo="8-37710" authorizedParticipantCrdNo="000019647" authorizedParticipantLei="7TK5RJIZDFROZCA6XF66" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="RBC Capital Markets, LLC" authorizedParticipantFileNo="8-45411" authorizedParticipantCrdNo="000031194" authorizedParticipantLei="549300LCO2FLSSVFFR64" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Goldman Sachs &amp; Co. LLC" authorizedParticipantFileNo="8-00129" authorizedParticipantCrdNo="000000361" authorizedParticipantLei="FOR8UP27PHTHYVLBNG30" authorizedParticipantPurchaseValue="23824388.30" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="BNY Mellon Capital Markets, LLC" authorizedParticipantFileNo="8-35255" authorizedParticipantCrdNo="000017454" authorizedParticipantLei="VJW2DOOHGDT6PR0ZRO63" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="BofA Securities, Inc." authorizedParticipantFileNo="8-69787" authorizedParticipantCrdNo="000283942" authorizedParticipantLei="549300HN4UKV1E2R3U73" authorizedParticipantPurchaseValue="164423163.01" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="BNP Paribas Securities Corp" authorizedParticipantFileNo="8-32682" authorizedParticipantCrdNo="000015794" authorizedParticipantLei="RCNB6OTYUAMMP879YW96" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Credit Suisse Securities (USA) LLC" authorizedParticipantFileNo="8-00422" authorizedParticipantCrdNo="000000816" authorizedParticipantLei="1V8Y6QCX6YMJ2OELII46" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Barclays Capital, Inc." authorizedParticipantFileNo="8-41342" authorizedParticipantCrdNo="000019714" authorizedParticipantLei="AC28XWWI3WIBK2824319" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Citigroup Global Markets Inc." authorizedParticipantFileNo="8-08177" authorizedParticipantCrdNo="000007059" authorizedParticipantLei="MBNUM2BPBDO7JBLYG310" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Virtu Americas LLC" authorizedParticipantFileNo="8-68193" authorizedParticipantCrdNo="000149823" authorizedParticipantLei="549300RA02N3BNSWBV74" authorizedParticipantPurchaseValue="3509580.85" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="UBS Securities LLC" authorizedParticipantFileNo="8-22651" authorizedParticipantCrdNo="000007654" authorizedParticipantLei="T6FIZBDPKLYJKFCRVK44" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Morgan Stanley &amp; Co. LLC" authorizedParticipantFileNo="8-15869" authorizedParticipantCrdNo="000008209" authorizedParticipantLei="9R7GPTSO7KV3UQJZQ078" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Wells Fargo Securities, LLC" authorizedParticipantFileNo="8-65876" authorizedParticipantCrdNo="000126292" authorizedParticipantLei="VYVVCKR63DVZZN70PB21" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="SG Americas Securities, LLC" authorizedParticipantFileNo="8-66125" authorizedParticipantCrdNo="000128351" authorizedParticipantLei="549300F35UE0BOM1WJ55" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Jane Street Capital, LLC" authorizedParticipantFileNo="8-52275" authorizedParticipantCrdNo="000103782" authorizedParticipantLei="549300ZM16HMPEPNV857" authorizedParticipantPurchaseValue="5915304.34" authorizedParticipantRedeemValue="0.00000000"/>
        </authorizedParticipants>
        <isCollateralRequired>N</isCollateralRequired>
        <creationUnitNumOfShares>10000.00000000</creationUnitNumOfShares>
        <averagePercentagePurchased>100.00000000</averagePercentagePurchased>
        <standardDeviationPurchased>0.00000000</standardDeviationPurchased>
        <creationUnitPurchasedInKind>0.00000000</creationUnitPurchasedInKind>
        <creationUnitPurchasedSDInKind>0.00000000</creationUnitPurchasedSDInKind>
        <averagePercentageRedeemed>0.00000000</averagePercentageRedeemed>
        <percentSDRedeemed>0.00000000</percentSDRedeemed>
        <creationUnitPercentageRedeemedInKind>0.00000000</creationUnitPercentageRedeemedInKind>
        <creationUnitSDRedeemedInKind>0.00000000</creationUnitSDRedeemedInKind>
        <creationUnitTransactionFeePerUnit>N/A</creationUnitTransactionFeePerUnit>
        <creationUnitTransactionFeeManyUnits>391.48936170</creationUnitTransactionFeeManyUnits>
        <creationUnitTransactionFeePercentagePerUnit>0.00001319</creationUnitTransactionFeePercentagePerUnit>
        <creationUnitTransactionFeeCashPerUnit>N/A</creationUnitTransactionFeeCashPerUnit>
        <creationUnitTransactionFeeCashManyUnits>391.48936170</creationUnitTransactionFeeCashManyUnits>
        <creationUnitTransactionFeeCashPercentagePerUnit>0.00001319</creationUnitTransactionFeeCashPercentagePerUnit>
        <purchaseCreationUnitDollarPerUnit>N/A</purchaseCreationUnitDollarPerUnit>
        <purchaseCreationUnitDollarPerMoreUnits>0.00000000</purchaseCreationUnitDollarPerMoreUnits>
        <purchaseCreationUnitDollarPercentagePerUnit>0.00000000</purchaseCreationUnitDollarPercentagePerUnit>
        <purchaseCreationUnitCashPerUnit>N/A</purchaseCreationUnitCashPerUnit>
        <purchaseCreationUnitCashPerMoreUnits>0.00000000</purchaseCreationUnitCashPerMoreUnits>
        <purchaseCreationUnitCashPercentagePerUnit>0.00000000</purchaseCreationUnitCashPercentagePerUnit>
        <isInKindETF>N</isInKindETF>
      </exchangeTradedFund>
      <exchangeTradedFund>
        <fundName>JPMorgan High Yield Research Enhanced ETF</fundName>
        <etfSeriesId>S000054488</etfSeriesId>
        <securityExchanges>
          <securityExchange fundExchange="CBSX" fundsTickerSymbol="JPHY"/>
        </securityExchanges>
        <authorizedParticipants>
          <authorizedParticipant authorizedParticipantName="BofA Securities, Inc." authorizedParticipantFileNo="8-69787" authorizedParticipantCrdNo="000283942" authorizedParticipantLei="549300HN4UKV1E2R3U73" authorizedParticipantPurchaseValue="41194005.03" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="BNY Mellon Capital Markets, LLC" authorizedParticipantFileNo="8-35255" authorizedParticipantCrdNo="000017454" authorizedParticipantLei="VJW2DOOHGDT6PR0ZRO63" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Jane Street Capital, LLC" authorizedParticipantFileNo="8-52275" authorizedParticipantCrdNo="000103782" authorizedParticipantLei="549300ZM16HMPEPNV857" authorizedParticipantPurchaseValue="149345639.91" authorizedParticipantRedeemValue="241490820.66"/>
          <authorizedParticipant authorizedParticipantName="SG Americas Securities, LLC" authorizedParticipantFileNo="8-66125" authorizedParticipantCrdNo="000128351" authorizedParticipantLei="549300F35UE0BOM1WJ55" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Goldman Sachs &amp; Co. LLC" authorizedParticipantFileNo="8-00129" authorizedParticipantCrdNo="000000361" authorizedParticipantLei="FOR8UP27PHTHYVLBNG30" authorizedParticipantPurchaseValue="5092751.65" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Wells Fargo Securities, LLC" authorizedParticipantFileNo="8-65876" authorizedParticipantCrdNo="000126292" authorizedParticipantLei="VYVVCKR63DVZZN70PB21" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Morgan Stanley &amp; Co. LLC" authorizedParticipantFileNo="8-15869" authorizedParticipantCrdNo="000008209" authorizedParticipantLei="9R7GPTSO7KV3UQJZQ078" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Jefferies LLC" authorizedParticipantFileNo="8-15074" authorizedParticipantCrdNo="000002347" authorizedParticipantLei="58PU97L1C0WSRCWADL48" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="UBS Securities LLC" authorizedParticipantFileNo="8-22651" authorizedParticipantCrdNo="000007654" authorizedParticipantLei="T6FIZBDPKLYJKFCRVK44" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Virtu Americas LLC" authorizedParticipantFileNo="8-68193" authorizedParticipantCrdNo="000149823" authorizedParticipantLei="549300RA02N3BNSWBV74" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Barclays Capital, Inc." authorizedParticipantFileNo="8-41342" authorizedParticipantCrdNo="000019714" authorizedParticipantLei="AC28XWWI3WIBK2824319" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Credit Suisse Securities (USA) LLC" authorizedParticipantFileNo="8-00422" authorizedParticipantCrdNo="000000816" authorizedParticipantLei="1V8Y6QCX6YMJ2OELII46" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Citigroup Global Markets Inc." authorizedParticipantFileNo="8-08177" authorizedParticipantCrdNo="000007059" authorizedParticipantLei="MBNUM2BPBDO7JBLYG310" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="RBC Capital Markets, LLC" authorizedParticipantFileNo="8-45411" authorizedParticipantCrdNo="000031194" authorizedParticipantLei="549300LCO2FLSSVFFR64" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Mizuho Securities USA LLC" authorizedParticipantFileNo="8-37710" authorizedParticipantCrdNo="000019647" authorizedParticipantLei="7TK5RJIZDFROZCA6XF66" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="BNP Paribas Securities Corp" authorizedParticipantFileNo="8-32682" authorizedParticipantCrdNo="000015794" authorizedParticipantLei="RCNB6OTYUAMMP879YW96" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
        </authorizedParticipants>
        <isCollateralRequired>N</isCollateralRequired>
        <creationUnitNumOfShares>100000.00000000</creationUnitNumOfShares>
        <averagePercentagePurchased>49.49000000</averagePercentagePurchased>
        <standardDeviationPurchased>45.40000000</standardDeviationPurchased>
        <creationUnitPurchasedInKind>50.51000000</creationUnitPurchasedInKind>
        <creationUnitPurchasedSDInKind>45.40000000</creationUnitPurchasedSDInKind>
        <averagePercentageRedeemed>12.69000000</averagePercentageRedeemed>
        <percentSDRedeemed>1.22000000</percentSDRedeemed>
        <creationUnitPercentageRedeemedInKind>87.31000000</creationUnitPercentageRedeemedInKind>
        <creationUnitSDRedeemedInKind>1.22000000</creationUnitSDRedeemedInKind>
        <creationUnitTransactionFeePerUnit>N/A</creationUnitTransactionFeePerUnit>
        <creationUnitTransactionFeeManyUnits>357.14000000</creationUnitTransactionFeeManyUnits>
        <creationUnitTransactionFeePercentagePerUnit>0.00002500</creationUnitTransactionFeePercentagePerUnit>
        <creationUnitTransactionFeeCashPerUnit>N/A</creationUnitTransactionFeeCashPerUnit>
        <creationUnitTransactionFeeCashManyUnits>357.14000000</creationUnitTransactionFeeCashManyUnits>
        <creationUnitTransactionFeeCashPercentagePerUnit>0.00002500</creationUnitTransactionFeeCashPercentagePerUnit>
        <purchaseCreationUnitDollarPerUnit>N/A</purchaseCreationUnitDollarPerUnit>
        <purchaseCreationUnitDollarPerMoreUnits>500.00000000</purchaseCreationUnitDollarPerMoreUnits>
        <purchaseCreationUnitDollarPercentagePerUnit>0.00000000</purchaseCreationUnitDollarPercentagePerUnit>
        <purchaseCreationUnitCashPerUnit>N/A</purchaseCreationUnitCashPerUnit>
        <purchaseCreationUnitCashPerMoreUnits>500.00000000</purchaseCreationUnitCashPerMoreUnits>
        <purchaseCreationUnitCashPercentagePerUnit>0.00000000</purchaseCreationUnitCashPercentagePerUnit>
        <isInKindETF>N</isInKindETF>
      </exchangeTradedFund>
      <exchangeTradedFund>
        <fundName>JPMorgan BetaBuilders 1-5 Year U.S. Aggregate Bond ETF</fundName>
        <etfSeriesId>S000064871</etfSeriesId>
        <securityExchanges>
          <securityExchange fundExchange="CBSX" fundsTickerSymbol="BBSA"/>
        </securityExchanges>
        <authorizedParticipants>
          <authorizedParticipant authorizedParticipantName="UBS Securities LLC" authorizedParticipantFileNo="8-22651" authorizedParticipantCrdNo="000007654" authorizedParticipantLei="T6FIZBDPKLYJKFCRVK44" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Credit Suisse Securities (USA) LLC" authorizedParticipantFileNo="8-00422" authorizedParticipantCrdNo="000000816" authorizedParticipantLei="1V8Y6QCX6YMJ2OELII46" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Barclays Capital, Inc." authorizedParticipantFileNo="8-41342" authorizedParticipantCrdNo="000019714" authorizedParticipantLei="AC28XWWI3WIBK2824319" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="RBC Capital Markets, LLC" authorizedParticipantFileNo="8-45411" authorizedParticipantCrdNo="000031194" authorizedParticipantLei="549300LCO2FLSSVFFR64" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Wells Fargo Securities, LLC" authorizedParticipantFileNo="8-65876" authorizedParticipantCrdNo="000126292" authorizedParticipantLei="VYVVCKR63DVZZN70PB21" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="BNY Mellon Capital Markets, LLC" authorizedParticipantFileNo="8-35255" authorizedParticipantCrdNo="000017454" authorizedParticipantLei="VJW2DOOHGDT6PR0ZRO63" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="BofA Securities, Inc." authorizedParticipantFileNo="8-69787" authorizedParticipantCrdNo="000283942" authorizedParticipantLei="549300HN4UKV1E2R3U73" authorizedParticipantPurchaseValue="10171805.56" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="SG Americas Securities, LLC" authorizedParticipantFileNo="8-66125" authorizedParticipantCrdNo="000128351" authorizedParticipantLei="549300F35UE0BOM1WJ55" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Morgan Stanley &amp; Co. LLC" authorizedParticipantFileNo="8-15869" authorizedParticipantCrdNo="000008209" authorizedParticipantLei="9R7GPTSO7KV3UQJZQ078" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Mizuho Securities USA LLC" authorizedParticipantFileNo="8-37710" authorizedParticipantCrdNo="000019647" authorizedParticipantLei="7TK5RJIZDFROZCA6XF66" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Goldman Sachs &amp; Co. LLC" authorizedParticipantFileNo="8-00129" authorizedParticipantCrdNo="000000361" authorizedParticipantLei="FOR8UP27PHTHYVLBNG30" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="BNP Paribas Securities Corp" authorizedParticipantFileNo="8-32682" authorizedParticipantCrdNo="000015794" authorizedParticipantLei="RCNB6OTYUAMMP879YW96" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Jane Street Capital, LLC" authorizedParticipantFileNo="8-52275" authorizedParticipantCrdNo="000103782" authorizedParticipantLei="549300ZM16HMPEPNV857" authorizedParticipantPurchaseValue="9019954.83" authorizedParticipantRedeemValue="42424917.31"/>
          <authorizedParticipant authorizedParticipantName="Virtu Americas LLC" authorizedParticipantFileNo="8-68193" authorizedParticipantCrdNo="000149823" authorizedParticipantLei="549300RA02N3BNSWBV74" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
          <authorizedParticipant authorizedParticipantName="Citigroup Global Markets Inc." authorizedParticipantFileNo="8-08177" authorizedParticipantCrdNo="000007059" authorizedParticipantLei="MBNUM2BPBDO7JBLYG310" authorizedParticipantPurchaseValue="0.00000000" authorizedParticipantRedeemValue="0.00000000"/>
        </authorizedParticipants>
        <isCollateralRequired>N</isCollateralRequired>
        <creationUnitNumOfShares>25000.00000000</creationUnitNumOfShares>
        <averagePercentagePurchased>25.97000000</averagePercentagePurchased>
        <standardDeviationPurchased>41.69000000</standardDeviationPurchased>
        <creationUnitPurchasedInKind>74.03000000</creationUnitPurchasedInKind>
        <creationUnitPurchasedSDInKind>41.69000000</creationUnitPurchasedSDInKind>
        <averagePercentageRedeemed>12.93000000</averagePercentageRedeemed>
        <percentSDRedeemed>0.08000000</percentSDRedeemed>
        <creationUnitPercentageRedeemedInKind>87.07000000</creationUnitPercentageRedeemedInKind>
        <creationUnitSDRedeemedInKind>0.08000000</creationUnitSDRedeemedInKind>
        <creationUnitTransactionFeePerUnit>N/A</creationUnitTransactionFeePerUnit>
        <creationUnitTransactionFeeManyUnits>600.00000000</creationUnitTransactionFeeManyUnits>
        <creationUnitTransactionFeePercentagePerUnit>0.00000000</creationUnitTransactionFeePercentagePerUnit>
        <creationUnitTransactionFeeCashPerUnit>N/A</creationUnitTransactionFeeCashPerUnit>
        <creationUnitTransactionFeeCashManyUnits>600.00000000</creationUnitTransactionFeeCashManyUnits>
        <creationUnitTransactionFeeCashPercentagePerUnit>0.00000000</creationUnitTransactionFeeCashPercentagePerUnit>
        <purchaseCreationUnitDollarPerUnit>N/A</purchaseCreationUnitDollarPerUnit>
        <purchaseCreationUnitDollarPerMoreUnits>600.00000000</purchaseCreationUnitDollarPerMoreUnits>
        <purchaseCreationUnitDollarPercentagePerUnit>0.00000000</purchaseCreationUnitDollarPercentagePerUnit>
        <purchaseCreationUnitCashPerUnit>N/A</purchaseCreationUnitCashPerUnit>
        <purchaseCreationUnitCashPerMoreUnits>600.00000000</purchaseCreationUnitCashPerMoreUnits>
        <purchaseCreationUnitCashPercentagePerUnit>0.00000000</purchaseCreationUnitCashPercentagePerUnit>
        <isInKindETF>N</isInKindETF>
      </exchangeTradedFund>
    </exchangeSeriesInfo>
    <attachmentsTab>
      <isLegalProceedings>false</isLegalProceedings>
      <isProvisionFinancialSupport>false</isProvisionFinancialSupport>
      <isIPAReportInternalControl>true</isIPAReportInternalControl>
      <isChangeAccPrinciples>false</isChangeAccPrinciples>
      <isInfoRequiredEO>false</isInfoRequiredEO>
      <isOtherInfoRequired>false</isOtherInfoRequired>
    </attachmentsTab>
    <signature registrantSignedName="J.P. Morgan Exchange-Traded Fund Trust" signedDate="2022-05-13" signature="Timothy J. Clemens" title="Treasurer and Principal Financial Officer"/>
  </formData>
</edgarSubmission>
