JPMorgan Chase (JPM) said Friday morning its asset management division has launched a new exchange-traded fund intended to generate long-term capital appreciation by investing in the shares of large-cap companies and bolstered by the company's proprietary equity research.
The JPMorgan US Research Enhanced Large Cap ETF will trade on the New York Stock Exchange under the JUSA ticker symbol and is being led by Ralph Zingone and Tim Snyder, two long-time portfolio managers at the company.
The new ETF was designed to have a slightly lower active risk budget and a larger number of individual holdings compared with most ETFs and providing investors with additional diversification and consistent returns, the company said.
JP Morgan shares recently were climbing over 2% in mid-morning trade on Friday.
Price: 230.76, Change: +5.57, Percent Change: +2.47
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