JPMorgan Preferred and Income Securities ETF (JPRF)

The JPMorgan Preferred and Income Securities ETF (JPRF) is an actively managed fund from J.P. Morgan Asset Management that seeks to provide income by investing in preferred stocks and other income-oriented securities.

Its holdings can include traditional preferred shares, hybrid securities that combine features of debt and equity, contingent capital securities and subordinated corporate bonds. Issuers of these instruments are often banks, insurers, utilities and other companies that use preferred and hybrid capital as part of their funding.

Rather than following an index, the portfolio managers select securities based on credit research, structural features such as call terms and payment priority, and relative value across the preferred and hybrid markets.