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Index Names & Definitions

Index Name

 

Glossary Text

 

Alerian MLP Index TR

The Alerian MLP Index is a market-cap weighted, float-adjusted index created to provide a comprehensive benchmark for investors to track the performance of the energy MLP sector.

BBgBarc Short-term Gov/Corporate TR USD

The index measures the performance of the U.S. investment grade fixed rate bond market, with index components for Agencies, Financial Institutions, Industrial, Treasuries and Utility, with remaining time to maturity of 0.8-1(exclusive) years.

Bloomberg Aggregate Bond Index TR

An index composed of taxable bond issues rated BBB or higher, with one year or more to maturity and outstanding par value of $100 million or more.

Bloomberg Commodity Forward 3 Mon TR USD

This index is composed of longer-dated futures contracts on 19 physical commodities.

Bloomberg Global Agg ex-US (unhedged) Index TR

An unmanaged index used as a broad measure of the investment-grade bond index, excluding U.S. securities.

Bloomberg Global Aggregate Bond Index TR

Barclays Global Aggregate Bond Index provides a broad-based measure of the global investment grade fixed-rate debt markets. It is comprised of the U.S. Aggregate, Pan-European Aggregate, and the Asian-Pacific Aggregate Indexes. It also includes a wide range of standard and customized subindices by liquidity constraint, sector, quality and maturity.

Bloomberg Government 1-3yr Index TR

This index is composed of treasury bond and agency bond indices that have maturities of one to three years.

Bloomberg Govt/Credit A+ Index TR

This index is a subset of the Barclays Capital Govt/Credit Bond Index (BCGC) and only includes issues rated A or higher

Bloomberg Govt/Credit A+ 1-5yr Index TR

This index is a subset of the Barclays Capital Govt/Credit Intermediate Bond Index (BCGCI) and only includes issues rated A or higher and maturities limited to a maximum of five years.

Bloomberg Govt/Credit Bond Index TR

An index that contains US Treasuries and agencies, Yankee and US corporate debentures and secured notes (publicly issued).

Bloomberg Govt/Credit Int. Bond Index TR

The Barclays Capital Govt/Credit Bond Index (BCGC) contains US Treasuries and agencies, Yankee and US corporate debentures and secured notes (publicly issued).This index is a subset of the Barclays Capital Govt/Credit Bond Index and includes issues with maturities between one and ten years.

Bloomberg High Yield Muni Index TR

An unmanaged index consisting of noninvestment-grade, unrated or below Ba1 bonds.

Bloomberg Int Aggregate Bond Index TR

An unmanaged index that covers the intermediate investment grade fixed rate bond market with index components for government and corporate securities, mortgage pass-through securities, and asset-backed securities. The issues must be rated investment grade, be publicly traded, and meet certain maturity and issue size requirements.

Bloomberg Int Corporate Bond Index TR

This index includes dollar-denominated debt from U.S. and non-U.S. industrial, utility, and financial institutions issuers with a duration of 1-10 years.

Bloomberg Managed Money Int. Index TR

The Barclays Capital Managed Money Intermediate (1-17 year) Index is an unmanaged, tax-exempt bond market index that measures the 1-17 year duration component of Barclays Capital Managed-Money Municipal Bond Index

Bloomberg Managed Money Short Term Index TR

A rules-based, market valued-weighted index that includes fixed-rate, tax-exempt municipal bonds with at least $7 million outstanding, other than alternative minimum tax bonds and airline, hospital, housing, and tobacco bonds, which have maturities between one and five years and which were issued within the last five years in transactions of at least $75 million, are rated at least Aa3/AA- or higher and have at least one year until maturity.

Bloomberg Managed Money Short/Int Index TR

A rules-based, market valued-weighted index that includes fixed-rate, tax-exempt municipal bonds with at least $7 million outstanding, other than alternative minimum tax bonds and airline, hospital, housing, and tobacco bonds, which have maturities between one and ten years, and which were issued within the last five years in transactions of at least $75 million, are rated at least Aa3/AA- or higher and have at least one year until maturity.

Bloomberg Muni Bond Index TR

An index that includes approximately 40,000 bonds that are fixed-rate, tax-exempt and investment grade, are rated Baa or better, and have a year or more to maturity and outstanding par value of $3 million or more.

Bloomberg Muni Bond 1 yr Index TR

This index includes bonds with a minimum credit rating of BAA3, are issued as part of a deal of at least $50 million, have an amount outstanding of at least $5 million, and have maturities of 1 to 2 years.

Bloomberg Muni Bond 1-15 yr (1-17 Mat) Index TR

A rules-based market value-weighted index of bonds with maturities of one year to 16 years and 11 months engineered for the tax-exempt bond market.

Bloomberg Muni Bond 10 yr Index TR

An unmanaged index that includes investment grade tax-exempt bonds with maturities between 8-12 years.

Bloomberg Muni Bond 20+ yr Index TR

This index is the 20 Year (17-22) component of the Municipal Bond index. The Barclays Capital Municipal Bond Index includes approximately 40,000 bonds that are fixed-rate, tax-exempt and investment grade, are rated Baa or better, and have a year or more to maturity and outstanding par value of $3 million or more.

Bloomberg Muni Bond 3 yr Index TR

An unmanaged index of municipal bonds issued after January 1, 1991 with a minimum credit rating of at least Baa, been issued as part of a deal of at least $50 million, have a maturity value of at least $5 million and a maturity range of 1-5 years. As of January 1996, the index also includes zero coupon bonds and bonds subject to the Alternative Minimum Tax.

Bloomberg Muni Bond 5 yr Index TR

This Index is a market-value-weighted index representative of the medium term (4 to 6 years) tax-exempt bond market.

Bloomberg Muni Bond 7 yr Index TR

This index is a subset of the Barclays Capital Municipal Bond Index (BCMUNI) and contains roughly 5000 component bonds with standard maturity of 6-8 years and outstanding par value of $5 million or more.

Bloomberg Muni California Index TR

The Barclays California Municipal Bond Index is a market capitalization - weighted index of California Investment-grade bonds with maturities of one year or more.

Bloomberg Muni Long Bond Index TR

A benchmark designed for long-term municipal assets. The index includes bonds with a minimum credit rating of BAA3, bonds issued as part of a deal of at least $50 million, with an amount outstanding of at least $5 million, a maturity of 22 years or greater and have been issued after 12/31/1990.

Bloomberg Muni New York Index TR

An unmanaged index composed of New York investment grade municipal bonds.

Bloomberg Muni Short/Int 1-10 yr Index TR

A market-value-weighted index that includes investment-grade tax-exempt bonds with maturities of one to 10 years.

Bloomberg Muni 1-5 Yr Blend(1-6) TR USD

The index measures the performance of USD-denominated long-term tax exempt bond market with maturities of 1-5 years, including state and local general obligation bonds, revenue bonds, insured bonds, and prerefunded bonds. It is a subset of overall Municipal index

Bloomberg US Corp High Yield Index TR

An index that consists of fixed rate, non-investment grade debt. Pay-in-kind bonds, Eurobonds, and debt issues from countries designated as emerging markets are excluded, while Canadian and SEC registered global bonds of issuers in non-emerging markets countries are included. Original issue zeroes, step-up coupon structures, and 144-A securities are also included. All issues in this index must have at least one year to final maturity and at least $150 million par amount outstanding.

Bloomberg US Govt/Credit 1-3 yr Bond Index TR

An unmanaged index of investment grade government and corporate bonds with maturities of one to three years.

Bloomberg US High Yield Ba TR USD

The Index measures the USD-denominated, high yield, fixed-rate corporate bond market.

Bloomberg US High Yield 2% Issuer Cap Index TR

An unmanaged index of the 2% Issuer Cap component of the Barclays High Yield Corporate Bond Index, which is a market value-weighted index of fixed rate, non-investment grade debt.

BofAML High Yield Master II Index TR

The components of this capitalization-weighted index are US domestic, non-investment grade bonds that are US dollar pay with more than one year to maturity and have $100 million face or more outstanding and a fixed coupon schedule.

BofAML US High Yield BB-B Rated Const Index TR

An index that tracks the performance of BB-B Rated U.S. Dollar-denominated corporate bonds publicly issued in the U.S. domestic market.

BofAML US TBILL 0-3 Month + 2%

The index measures the performance of short-term Treasuries

BofAML 91 Day T-Bill Index TR

An index comprised of a single Treasury Bill issue purchased at the beginning of the month and held for a full month. At the end of the month, that issue is sold and rolled into a newly selected issue. The issue selected at each month-end rebalancing is the outstanding Treasury Bill that matures closest to, but not beyond, 3 months from the rebalancing date.

Citigroup World Govt Bond Index TR

This market capitalization weighted index consists of the government bond markets of eligible countries determined based on market capitalization and investability criteria. All issues have a remaining maturity of at least one year. Index returns for the Citigroup World Government Bond Index are based on local base currency.

DJ US Select Dividend TR USD

The index measures the performance of 100 leading US dividend-paying companies, based on dividend yield. The securities in this index are dividend-weighted. Securities are capped to prevent one security from dominating the index's constitution.

Dow Jones Global Ex US Select REIT Index TR

A float-adjusted market capitalization weighted index that defines and measures the investable universe of publicly traded real estate securities in countries outside of the US.

Dow Jones Industrial Average Index PR

The Dow Jones Industrial Average is a price-weighted average of 30 significant stocks traded on the New York Stock Exchange and the Nasdaq.

Dow Jones Industrial Average Index TR

The Dow Jones Industrial Average is a price-weighted average of 30 significant stocks traded on the New York Stock Exchange and the Nasdaq.

Dow Jones-UBS Commodity Index TR

A rolling commodities index composed of futures contracts on 19 physical commodities traded on US exchanges. The index serves as a liquid and diversified benchmark for the commodities' asset class.

FTSE Emerging TR USD

The index measures the performance of Large, Mid and Small cap securities listed in Advanced Emerging and Secondary Emerging countries.

FTSE EPRA/NAREIT Developed Index TR

The Index is designed to measure the stock performance of companies engaged in specific real estate activities of the North American, European and Asian real estate markets. Relevant real estate activities are defined as the ownership, trading and development of income-producing real estate.

FTSE NAREIT All Equity Index TR

A capitalization-weighted index composed of tax-qualified REITs with common shares listed on NASDAQ, AMEX and NYSE.

FTSE UK RIC Capped NR USD

The index is designed for use in the creationof index tracking funds, derivatives and as aperformance benchmark

HFRI Fund of Funds Index

An index that represents investment with multiple managers through funds or managed accounts. The strategy presents a diversified group of managers in an attempt to significantly reduce the risk of investing with any one individual manager. HFRI performance is an estimate for up to four months.

ICE BofA 1-10 Year AAA-A US Corporate TR USD

The index is a subset of BofA Merrill Lynch US Corporate Index including all securities with a remaining term to final maturity less than 10 years and rated AAA through A3, inclusive. The BofA Merrill Lynch US Corporate Index tracks the performance of US dollar denominated investment grade corporate debt publicly issued in the US domestic market.

ICE BofA 1-3 Year US Corporate & Government

The index measures the performance of US dollar denominated investment grade debt publicly issued in the US domestic market, including US Treasury, US agency, foreign government, supranational and corporate securities. It is is a subset of BofA Merrill Lynch US Corporate & Government Index including all securities with a remaining term to final maturity less than 3 years.

JPM EMBI Global Diversified TR USD

The index measures the performance of fixed rate, USD denominated debt instruments issued by emerging market sovereign and quasi-sovereign entities, including Brady bonds, loans and Eurobonds. The Diversified version limites the weights of those index countries with larger debt stocks by only including a specified portion of these countries eligible current face amounts of debt outstanding.

LBMA Gold Price PM USD

The index mearures the performance of setting price of gold, determined twice each business day on the London bullion market by the five members of The London Gold Market Fixing Ltd. It is designed to fix a price for settling contracts between members of the London bullion market, but informally the gold fixing provides a recognized rate that is used as a benchmark for pricing the majority of gold products and derivatives throughout the world's markets.

MSCI ACWI All Cap GR USD

The index measures the performance of large, mid, small and micro cap segment of both developed and emerging markets equity securities. It covers approximately 99% of the global equity investment opportunity set across 23 developed markets and 21 emerging markets. The index is free float-adjusted market capitalization weighted.

MSCI ACWI Ex USA Small NR USD

The index measures the performance of the small cap segment of the particular regions, excluding USA equity securities, including developed and emerging market. It is free float-adjusted market-capitalization weighted.

MSCI ACWI GR USD

The index measures the performance of the large and mid cap segments of all country markets. It is free float-adjusted market-capitalization weighted.

MSCI ACWI Infrastructure NR USD

It captures the global opportunity set of companies that are owners or operators of infrastructure assets. Constituents are selected from the equity universe of MSCI ACWI, the parent index, which covers mid and large cap securities across 23 Developed Markets (DM) and 25 Emerging Markets (EM) countries*

MSCI ACWI Small NR USD

The index measures the performance of the small cap segment of the particular regions equity securities, including developed and emerging market. It is free float-adjusted market-capitalization weighted.

MSCI ACWI/Energy NR USD

The index measures the performance of the large and mid-cap securities across 23 Developed Markets (DM) and 23 Emerging Markets (EM) countries. All Securities in the index are classified in the Energy sector as per the Global Industry Classification Standard. The index is market-capitalization weighted.

MSCI ACWI/Metals&Mining NR USD

The index is composed of large and mid cap stocks across 23 Developed Markets (DM) countries*and 24 Emerging Markets (EM) countries. All securities in the index are classified in the Metals & Mining industry (within theMaterials sector) according to the Global Industry Classification Standard

MSCI ACWI/Real Estate NR USD

It is is designed to capture the large and mid-cap segments across 23 Developed Markets (DM)and 24 Emerging Markets (EM) countries*. All securities in the index are classified in the Real Estate according to the GlobalIndustry Classification Standard

MSCI All Country World Ex US Index NR

A free float-adjusted market capitalization index that is designed to measure equity market performance in the global developed and emerging markets excluding the US.

MSCI All Country World Index NR

A free float-adjusted market capitalization weighted index that is designed to measure the global equity market performance of developed and emerging markets.

MSCI EAFE Index NR

An index composed of individually constituted country indices and is based on share prices of listed companies of developed countries (excluding North America).

MSCI EAFE Small Cap Index NR

This index measures the performance of small cap stocks in European, Australasian, and Far Eastern markets.

MSCI EM PR USD

The index measures the performance of the large and mid cap segments of emerging market equity securities. It is free float-adjusted market-capitalization weighted.

MSCI Emerging Markets Index NR

A free float-adjusted market capitalization index that is designed to measure equity market performance in the global emerging markets.

MSCI Global Environment Select NR USD

The MSCI Global Environment Select Index is comprised of securities of companies that derive at least 75% of their revenues from environmentally beneficial products and services. The indexes is based on key environmental themes: Alternative Energy, Sustainable Water, Green Building, Pollution Prevention and Control, Energy Efficiency and Sustainable Agriculture. The index aims to serve as a benchmark for investors seeking exposure to companies whose primary source of revenues increase the efficient use of scarce natural resources or mitigate the impact of environmental degradation. Constituent selection is based on data from MSCI ESG Research.

MSCI Saudi Arabia IMI 25-50 NR USD

The Index is designed to measure the performance of the large, mid and small cap segments of theSaudi Arabia market. The index incorporates foreign ownership limit restrictions.

MSCI US IMI/Financials 25-50 NR USD

The index measures the performance of the large, mid and small cap financials (sector) segments of US equity securities. It is constructed using GICS-Global Industry Classification Standard. The index is free float-adjusted market-capitalization weighted. The MSCI 25/50 Indices take into account the investment limits required of regulated investment companies (RICs) under the current US Internal Revenue Code. One requirement of a RIC is that at the end of each quarter of its tax year no more than 25% of the value of the RIC's assets may be invested in a single issuer and the sum of the weights of all issuers representing more than 5% of the fund should not exceed 50% of the funds total assets.

MSCI US IMI/Health Care 25-50 NR USD

The index measures the performance of the large, mid and small cap health care (sector) segments of US equity securities. It is constructed using GICS-Global Industry Classification Standard. The index is free float-adjusted market-capitalization weighted. The MSCI 25/50 Indices take into account the investment limits required of regulated investment companies (RICs) under the current US Internal Revenue Code. One requirement of a RIC is that at the end of each quarter of its tax year no more than 25% of the value of the RIC's assets may be invested in a single issuer and the sum of the weights of all issuers representing more than 5% of the fund should not exceed 50% of the funds total assets.

MSCI USA ESG GR USD

The Index is designed to target companies with positive environmental, social and governance (ESG) factors while exhibiting risk and return characteristics similar to those of the MSCI USA Index.

MSCI World All Cap GR USD

The Index captures large, mid, small and micro cap representation across 23 Developed Markets (DM) countries.

MSCI World Energy NR USD

The index measures the performance of the large and mid cap energy (sector) segments of world equity securities. It is constructed using GICS-Global Industry Classification Standard. The index is free float-adjusted market-capitalization weighted.

MSCI World GR USD

The index measures the performance of the large and mid cap segments of world equity securities. It is free float-adjusted market-capitalization weighted.

MSCI World Index NR

A free float-adjusted market capitalization weighted index that is designed to measure the equity market performance of 23 developed market countries in North America, Europe and the Asia/Pacific region.

MSCI World Infrastructure NR USD

The MSCI World Infrastructure Index captures the global opportunity set of companies that are owners or operators of infrastructure assets. Constituents are selected from the equity universe of MSCI World, the parent index, which covers mid and large cap securities across the 23 Developed Markets (DM) countries*

MSCI World/Health Care NR USD

The index measures the performance of the large and mid cap health care (sector) segments of world equity securities. It is constructed using GICS-Global Industry Classification Standard. The index is free float-adjusted market-capitalization weighted.

MSCI World/Metals & Mining NR USD

The index measures the performance of the large and mid cap metals and mining (industry) segments of world equity securities. It is constructed using GICS-Global Industry Classification Standard. The index is free float-adjusted market-capitalization weighted.

MSCI World/Real Estate NR USD

The index measures the performance of the large and mid cap real estate (industry group) segments of world equity securities. It is constructed using GICS-Global Industry Classification Standard. The index is free float-adjusted market-capitalization weighted.

NYSE FactSet Glb Gnmcs&Imm Bio PR USD

The Index is a rules-based equity benchmark designed to track the performance of globally listed companies that could benefit from the long-term growth and innovation in genomics, immunology, and bioengineering.

Russell Midcap Growth Index TR

An index that tracks the performance of Russell Midcap companies with higher price-to-book ratios and higher forecasted growth values.

Russell Midcap Index TR

An index that tracks performance of the Russell 1000 Index's 800 smallest companies (roughly 26% of the Russell 1000 Index's total market capitalization).

Russell Midcap Value Index TR

An index that tracks the performance of Russell Midcap companies with lower price-to-book ratios and lower forecasted growth values.

Russell 1000 BM RIC 22.5/45 Cap TR USD

The Russell 1000 Energy RIC 22.5/45 Capped Index measures the performance of US large cap companies that are assigned to the Energy Industry by the ICB sector classification framework.

Russell 1000 Equal Weight TR USD

The index measures the performance of Russell 1000 index with the Russell equal weight methodology which equal weights the each sector within the index and then equally weights the companies within each sector. Compare to the Russell 1000 index, it prevents a few large companies from driving the indexs performance. This index is re-weighted quarterly and reconstituted annually.

Russell 3000 Index TR

An index that tracks performance of the 3000 largest publicly listed US companies, representing about 98% of the total capitalization of the entire US stock market.

S&P Cmmdity Prdcers Agrbusz Index NR USD

The S&P Commodity Producers Agribusiness Index includes the largest publicly traded companies involved in agriculture businesses around the world that meet specific investability requirements.

S&P Global Natural Resources Index

This index includes 90 of the largest publicly-traded companies in natural resources and commodities businesses that meet specific investability requirements, offering investors diversified and investable equity exposure across 3 primary commodity-related sectors: agribusiness, energy, and metals & mining.

S&P National AMT Free Muni TR USD

The index measures the performance of the investment grade segment of the US municipal bond market.

S&P 500 Equal Weighted Index TR

This index is the equal-weight version of the S&P 500. The index includes the same constituents as the capitalization weighted S&P 500, but each company in the S&P 500 EWI is allocated a fixed weight - or 0.2% of the index total at each quarterly rebalance.

S&P 500 Index TR

A market-value-weighted index that contains 500 U.S. stocks selected on the basis of liquidity, size and representativeness of industry sector.

S&P 500 Value Index TR

Contains approximately half of the market capitalization of the S&P 500 index and is typically used as a benchmark comparison for managers and funds that employ a value oriented investment discipline. Stocks in the S&P 500 are given a growth-value rating based on a multi-factor model looking at three growth factors (earnings per share growth rate, sales per share growth rate, and internal growth rate) and four value factors (book value to price ratio, cash flow to price ratio, sales to price ratio and dividend yield). One-third of the stocks are classified as growth, one-third are classified as value and the remaining third are classified as both growth and value. The index is rebalanced annually.

S&P 600 Small Cap Index TR

The S&P SmallCap 600® measures the small-cap segment of the U.S. equity market. The index is designed to track companies that meet specific inclusion criteria to ensure that they are liquid and financially viable.

SG Trend Index

The index tracks the performance of the largest tred following CTAs and be representative of the trend followers in the managed futures space. It is subset of the Newedge CTA index.

TIAA ESG USA Large Cap Growth GR USD

The h Index is based on the MSCI USA Growth index, its parent index, which captures large-cap securities exhibiting overall growth style characteristics in the US. The TIAA ESG USA Large-Cap Growth Index is designed to represent the performance of a TIAA strategy that aims to increase the Indexs exposure to positive environmental, social and governance (ESG) factors as well as exhibit lower carbon exposure than the Parent Index. T

TIAA ESG USA Large Cap Value GR USD

The e Index is based on the MSCI USA Value index, its parent index, which captures large-cap US securities exhibiting overall value style characteristics. The TIAA ESG Large-Cap Value is designed to represent the performance of a TIAA strategy that aims to increase the Indexs exposure to positive environmental, social and governance (ESG) factors as well as exhibit lower carbon exposure than the Parent Index.

TIAA ESG USA Mid Cap Growth GR USD

The Index is based on the MSCI USA Mid-Cap Growth Index, its parent index, which captures mid cap securities exhibiting overall growth style characteristics in the US. The TIAA ESG USA Mid-Cap Growth is designed to represent the performance of a TIAA strategy that aims to increase the Indexs exposure to positive environmental, social and governance (ESG) factors as well as exhibit lower carbon exposure than the Parent Index.

TIAA ESG USA Mid Cap Value GR USD

The Index is based on the MSCI USA Mid-Cap Value Index, its parent index, which captures midcap US securities exhibiting overall value style characteristics. The TIAA ESG USA Mid-Cap Value is designed to represent the performance of a TIAA strategy that aims to increase the Indexs exposure to positive environmental, social and governance (ESG) factors as well as exhibit lower carbon exposure than the Parent Index. T

 

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