JPMorgan Converts State Tax-Free Bond Mutual Funds Into ETFs

J.P. Morgan Asset Management converted two municipal bond mutual funds into ETFs: the JPMorgan New York Tax Free Bond ETF (JTNY) and the JPMorgan California Tax Free Bond ETF (JCAL). Both actively managed funds focus on municipal bonds that provide federal tax-exempt income and state-specific tax benefits for New York and California residents, respectively. The ETFs may invest across a range of municipal securities, including mortgage-backed and asset-backed bonds, while maintaining durations near their state municipal bond benchmarks. The conversions expand JPMorgan’s ETF lineup and provide tax-efficient access to long-standing state-focused municipal bond strategies.