J.P. Morgan Exchange-Traded Fund Trust - JPMorgan Ultra-Short Municipal Income ETF
US ˙ ARCA ˙ US46641Q6540

SecurityJMST / J.P. Morgan Exchange-Traded Fund Trust - JPMorgan Ultra-Short Municipal Income ETF
InstitutionValmark Advisers, Inc.
Latest Disclosed Ownership27,247 shares
Latest Disclosed Value $ 1,389,037
Valmark Advisers, Inc. reports 3.89% increase in ownership of JMST / J.P. Morgan Exchange-Traded Fund Trust - JPMorgan Ultra-Short Municipal Income ETF

On May 1, 2026 - Valmark Advisers, Inc. filed a 13F-HR form disclosing ownership of 27,247 shares of J.P. Morgan Exchange-Traded Fund Trust - JPMorgan Ultra-Short Municipal Income ETF (US:JMST) valued at $1,389,052 USD as of March 31, 2026. The entity filed a previous 13F-HR on January 26, 2026 disclosing 26,228 shares of J.P. Morgan Exchange-Traded Fund Trust - JPMorgan Ultra-Short Municipal Income ETF. This represents a change in shares of 3.89% during the quarter. The current value of the position is $1,387,690 USD.

Institutional Ownership: 13F and NPORT Filings

The Security and Class in the table below are shown exactly as filed by the investor. We do our best to track continuity of investments through acquisitions, and this will be reflected in the table as changes in names. In addition to descriptive data, performance of the investment is shown over time. To calculate quarterly performance, we first calculate cost basis of the shares purchased during the quarter, then use that to calculate gross profit. Quarterly return is Gross Profit / Starting Portfolio value.

Note that cost basis is calculated and stored in thousands, so small quarterly changes in shares frequently result in a cost basis of zero.

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Disclosed Equity Positions (from 13F/NPORT Filings)
File
Date		 Effective
Date		Form Security Class ID Avg Price
Paid (Est)		 Reported
Shares		 ΔShares ΔShares
(%)		 Reported
Value
(x1000)		 ΔValue
(%)		 Alloc
(%)		 ΔAlloc ΔAlloc (%) Cost Basis
(x1000)		 Unrealized
Gain/Loss
(x1000)
2026-05-01 2026-03-31 13F J P MORGAN EXCHANGE TRADED F ULTRA SHT MUNCPL 46641Q654 27,247 1,019 3.89 1,389 3.97 0.0165
2026-01-26 2025-12-31 13F J P MORGAN EXCHANGE TRADED F ULTRA SHT MUNCPL 46641Q654 26,228 556 2.17 1,336 1.98 0.0165
2025-10-24 2025-09-30 13F J P MORGAN EXCHANGE TRADED F ULTRA SHT MUNCPL 46641Q654 25,672 43 0.17 1,310 0.38 0.0169
2025-07-23 2025-06-30 13F J P MORGAN EXCHANGE TRADED F ULTRA SHT MUNCPL 46641Q654 25,629 47 0.18 1,305 0.38 0.0182
2025-04-23 2025-03-31 13F J P MORGAN EXCHANGE TRADED F ULTRA SHT MUNCPL 46641Q654 25,582 6,141 31.59 1,301 31.98 0.0196
2025-01-30 2024-12-31 13F J P MORGAN EXCHANGE TRADED F ULTRA SHT MUNCPL 46641Q654 19,441 9,579 97.13 986 96.22 0.0153
2024-10-25 2024-09-30 13F J P MORGAN EXCHANGE TRADED F ULTRA SHT MUNCPL 46641Q654 9,862 -43 -0.43 502 0.00 0.0078
2024-08-01 2024-06-30 13F J P MORGAN EXCHANGE TRADED F ULTRA SHT MUNCPL 46641Q654 9,905 9,905 503 0.0085
2024-02-02 2023-12-31 13F J P MORGAN EXCHANGE TRADED F ULTRA SHT MUNCPL 46641Q654 0 -5,480 -100.00 0 -100.00
2023-11-08 2023-09-30 13F J P MORGAN EXCHANGE TRADED F ULTRA SHT MUNCPL 46641Q654 5,480 -920 -14.38 276 -14.81 0.0057
2023-08-03 2023-06-30 13F J P MORGAN EXCHANGE TRADED F ULTRA SHT MUNCPL 46641Q654 6,400 0 0.00 324 -0.31 0.0066
2023-05-02 2023-03-31 13F J P MORGAN EXCHANGE TRADED F ULTRA SHT MUNCPL 46641Q654 6,400 -947 -12.89 325 -12.40 0.0070
2023-02-07 2022-12-31 13F J P MORGAN EXCHANGE TRADED F ULTRA SHT MUNCPL 46641Q654 7,347 -12,065 -62.15 371 -61.99 0.0086
2022-11-03 2022-09-30 13F J P MORGAN EXCHANGE TRADED F ULTRA SHT MUNCPL 46641Q654 19,412 1 0.01 976 -0.71 0.0196
2022-08-01 2022-06-30 13F J P MORGAN EXCHANGE TRADED F ULTRA SHT MUNCPL 46641Q654 19,411 -35,753 -64.81 983 -64.82 0.0191
2022-05-10 2022-03-31 13F J P MORGAN EXCHANGE-TRADED F ULTRA SHT MUNCPL 46641Q654 55,164 5,969 12.13 2,794 11.23 0.0492
2022-02-02 2021-12-31 13F J P MORGAN EXCHANGE-TRADED F ULTRA SHT MUNCPL 46641Q654 49,195 27,535 127.12 2,512 127.12 0.0433
2021-11-09 2021-09-30 13F J P MORGAN EXCHANGE-TRADED F ULTRA SHT MUNCPL 46641Q654 21,660 17,660 441.50 1,106 442.16 0.0202
2021-08-06 2021-06-30 13F J P MORGAN EXCHANGE-TRADED F ULTRA SHT MUNCPL 46641Q654 4,000 0 0.00 204 0.00 0.0037
2021-05-04 2021-03-31 13F J P MORGAN EXCHANGE-TRADED F ULTRA SHT MUNCPL 46641Q654 4,000 4,000 204 0.0039
Legend
Shares
The total number of shares held by the institution at the end of the reporting period (the effective date). This is provided in the filing.
Value
The total value of the shares as of the effective date. This is provided in the filing.
Avg. Share Price
The weighted average share price of the shares held by the institution. We use FIFO accounting to determine this price
Class
This is the security class as indicated by the filer. There are a variety of values for this field. Common values include "EC" = equity common, "EP" - equity preferred
Allocation (%)
The percent of the institution's portfolio that this position represents. This is provided in NPORT filings. For 13F filings, we calculate it.
Change in Allocation
The change in allocation from the prior reporting period. This is calculated as current allocation - prior allocation.
Change in Allocation (%)
The percent change in allocation from the prior reporting period. This is calculated as (current allocation - prior allocation) / prior allocation.
Cost Basis
The total cost of the shares held. This is calculated as reported shares * avg. share price
Unrealized Gain/Loss
This is the market value of the position as of the effective date minus the cost basis.