JPMorgan Managed Futures Plus ETF(NASDAQ:JPFP)

JPFP simultaneously employs two strategies. It provides US large-cap stock exposure while also pursuing returns from global equity, fixed income, commodities, and currencies using a managed futures approach. The equity component provides exposure through direct stocks and equity index futures, while the managed futures component uses a systematic, model-driven process to follow trends and macro-driven signals to establish long and short positions. The fund utilizes derivatives such as futures, forwards, options, and swaps, depending on where the manager sees an investment opportunity. The strategy aims to profit in both rising and falling markets. The fund makes extensive use of derivatives, resulting in aggregate notional exposure that exceeds its net assets. This can amplify both gains and losses. Rather than a commodity pool, the fund uses a Cayman structure, which is common in the commodity space. As such, taxable investors avoid a K-1 form come tax time.