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Market Chatter: JPMorgan Asset Management Seeks to Convert Municipal Funds Into ETFs

BY MT Newswires | MUNICIPAL | 01:27 PM EST

01:27 PM EST, 12/09/2025 (MT Newswires) -- JPMorgan Chase's (JPM) investment management division JPMorgan Asset Management is looking to convert two municipal-bond mutual funds with over $840 million of assets into exchange-traded funds in 2026, Bloomberg reported Tuesday, citing a filing.

The proposed conversion is expected to be discussed by the board for the JPMorgan California Tax Free Bond Fund and the JPMorgan New York Tax Free Bond Fund in February, and if approved, will take effect in June, according to the report.

Other funds being considered for conversion into ETFs are the JPMorgan US GARP Equity Fund and JPMorgan Preferred and Income Securities Fund, Bloomberg said.

JPMorgan Chase (JPM) did not immediately respond to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: 302.81, Change: -12.40, Percent Change: -3.93

MT Newswires does not provide investment advice. Unauthorized reproduction is strictly prohibited.

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In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.

Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.

Before investing, consider the funds' investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully.

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