JCAL ETF — JPMorgan California Tax Free Bond ETF

JPMorgan California Tax Free Bond ETF (JCAL)

Updated October 16, 2026.

JCAL is an ETF. its distribution rate is 3.43%, its trailing-12-month yield is 1.16%, its expense ratio is 0.34%. Dividend Vision Distribution Safety Score™ is 50/100 (Unproven). Total return is -3.3% over the past 0.3 years, 4.9 points behind SPY at 1.6%.

JPMorgan California Tax Free Bond ETF is an actively managed municipal bond ETF that seeks federal tax-exempt income and capital preservation for California residents. The 2026-06-30 official fact sheet states net expenses 0.34% and gross expenses 0.44%. The published expense ratio is the net figure. Distributions are monthly.

JCAL performance versus SPY

Price and return data through 2026-10-16.

Total return is -3.3% over the past 0.3 years, 4.9 points behind SPY at 1.6%.

JCAL key facts

Distribution Safety Score™

50 · Unproven

Issuer

JPMorgan

Asset type

ETF

Asset class

Fixed Income

Inception date

06/15/2026

Expense ratio

0.34%

Distribution rate

3.43%

Distribution frequency

Monthly

Trailing yield

1.16%

Last close

$47.91 (as of 2026-10-16)

AUM

$508,213,171

Average volume

528487.0

Dividend

$0.137

Ex-dividend date

10/01/2026

Payment date

10/05/2026

Beta

0.78

How Dividend Vision calculates yield and returns

Distribution rate (3.43%) uses calculation basis unavailable. Issuer rates can use a different denominator and date, including ex-date NAV. Trailing-12-month yield (1.16%) is the sum of split-adjusted cash distributions with ex-dates in the last 12 months, divided by the published price. It lags a recent raise or cut. Total return uses split-adjusted close with distributions reinvested on the ex-dividend date (a modeling convention, not the cash-settlement date) from the first stored bar on or after inception through the latest bar, compared with the same window on the benchmark. That is the security's total return, not your personal gain/loss.

Yield and safety methodology · Distribution rate methodology · Distribution Safety Score methodology

Sources and review

Primary sources: JPMorgan or company page; prices and distributions from Dividend Vision, derived from vendor EOD data.

Reviewed by Bert Sweet, CEO and Co-owner of Dividend Vision. Methodology: Distribution Safety Score.

JCAL risks and drawbacks

JCAL's current distribution rate is moderate, not a high-yield payout — the strategy is dividend quality more than maximum income. Total return has trailed SPY over the available window.

Who may consider JCAL — and who may not

JCAL may suit someone looking for moderate current income with a quality tilt. It is a weaker fit for investors hunting double-digit covered-call yields; investors whose main goal is matching SPY total return. This is educational context, not a recommendation to buy or sell.

More on JCAL

• All tickers starting with J

Tagged: Active, Bonds, Tax Efficient.

Frequently asked questions

More securities from JPMorgan.