JPMorgan Asset Management is seeking to convert two municipal-bond mutual funds with over $840 million of assets into ETFs in 2026, underscoring the growing popularity of the products.
The board for the JPMorgan California Tax Free Bond Fund and the JPMorgan New York Tax Free Bond Fund will consider the conversion in February, according to a filing Tuesday. If approved, the flip is expected to take place in June.
Both funds focus on investing in investment-grade muni bonds from California and New York, respectively. Those states are both home to wealthy residents who favor tax-exempt bonds as a way to reduce tax bills. Both have seen their assets grow year-to-date.
Bloomberg Markets
By Amanda Albright
December 9, 2025