J.P. Morgan Asset Management Announces Liquidation of Two Exchange-Traded Funds

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J.P. Morgan Asset Management announces the liquidation of JPMorgan Sustainable Consumption ETF (CIRC) and JPMorgan Social Advancement ETF (UPWD). Shareholders can buy and sell shares up to the de-listing date. Liquidation date is on or around 12/26/2023. Proceeds will be distributed at net asset value. Shareholders who continue to hold shares on the liquidation date will receive a cash distribution equal to the net asset value of their shares.

Funds are expected to liquidate Winter 2023

NEW YORK, Nov. 16, 2023 /PRNewswire/ -- J.P. Morgan Asset Management today announced the upcoming liquidation and dissolution of two exchange-traded funds: JPMorgan Sustainable Consumption ETF (CIRC) and JPMorgan Social Advancement ETF (UPWD) (collectively, the "ETFs").

Shareholders may buy and sell their shares up to and including the last day of trading prior to the de-listing date at market prices on The Nasdaq Stock Market® LLC. The last day of trading for CIRC and UPWD on Nasdaq is Friday, December 15, 2023.

ETF Name	Ticker	De-listing Date	Liquidation Date
JPMorgan Sustainable Consumption ETF	CIRC	12/18/2023	On or around 12/26/2023
JPMorgan Social Advancement ETF	UPWD	12/18/2023	On or around 12/26/2023

Proceeds from the liquidations will be distributed to shareholders at net asset value as of the liquidation date.

Shareholders who continue to hold shares of either of the ETFs on the ETFs' liquidation date will receive a liquidating distribution of cash in the cash portion of their brokerage accounts equal to the amount of the net asset value of their shares.

Shareholders who receive a liquidating distribution generally will recognize a capital gain or loss equal to the amount received for their shares over their adjusted basis in such shares if shares are held in a taxable account, and such shareholders should consult their tax advisor about the potential tax consequences.

About J.P. Morgan Asset Management
J.P. Morgan Asset Management, with assets under management of $3.19 trillion (as of 9/30/2023), is a global leader in investment management. J.P. Morgan Asset Management's clients include institutions, retail investors and high net worth individuals in every major market throughout the world. J.P. Morgan Asset Management offers global investment management in equities, fixed income, real estate, hedge funds, private equity and liquidity. For more information: www.jpmorganassetmanagement.com. J.P. Morgan Asset Management is the marketing name for the asset management businesses of JPMorgan Chase & Co., and its affiliates worldwide. 

JPMorgan Chase & Co. (NYSE: JPM) is a leading financial services firm based in the United States of America ("U.S."), with operations worldwide. JPMorgan Chase had $3.9 trillion in assets and $313 billion in stockholders' equity as of June 30, 2023. The Firm is a leader in investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing and asset management. Under the J.P. Morgan and Chase brands, the Firm serves millions of customers in the U.S., and many of the world's most prominent corporate, institutional and government clients globally. Information about JPMorgan Chase & Co. is available at www.jpmorganchase.com.

J.P. Morgan Distribution Services, Inc., member FINRA

NOT FDIC INSURED | NO BANK GUARANTEE | MAY LOSE VALUE

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SOURCE J.P. Morgan Asset Management

FAQ

What is the de-listing date for JPMorgan Sustainable Consumption ETF (CIRC)?

The de-listing date for CIRC is 12/18/2023.

What will happen to shareholders who continue to hold shares on the liquidation date?

They will receive a cash distribution equal to the net asset value of their shares.

How will the proceeds from the liquidations be distributed to shareholders?

The proceeds will be distributed at net asset value as of the liquidation date.