JPMorgan Launches Active Extension ETF with Reduced Fee

JPMorgan Chase has launched its first active extension ETF, the JPMorgan US Large Cap Value Plus ETF (JLVP), which targets long-term capital appreciation. The fund combines a core large-cap value portfolio with an extension sleeve, taking long positions in companies considered undervalued and shorts selected companies expected to underperform.

The strategy has been used by JPMorgan's institutional portfolios since 2016 and now brings that framework into an exchange-traded format for broader market access. The JLVP may use proceeds from short positions to support additional long exposure, allowing the portfolio to hold long positions exceeding 100% of its net assets.

The fund is backed by JPMorgan's established United States equities research platform, which includes 60 analysts with an average of 20 years of industry experience. The firm built its fundamental valuation framework over four decades and will cut JLVP's fee to 49 basis points through February 29, 2028.