Avantax Takes $128 Million Stake in JPMorgan Equity Focus ETF

The move signals a selective shift toward active management within a portfolio that leans on Schwab index funds.

Overview

An SEC filing shows Avantax bought 1,787,833 shares of JPMorgan Equity Focus ETF in the first quarter, a new position valued at $128.4 million at quarter-end.
Based on average first‑quarter prices, the firm spent an estimated $133.3 million to build the stake.
The holding accounted for about 3.52% of Avantax’s reportable assets as of March 31, making it the firm’s sixth‑largest position.
JPEF is the only actively managed fund in Avantax’s six largest holdings, as the other top slots go to Schwab index ETFs.
The ETF focuses on large U.S. stocks, manages about $1.7 billion, charges a 0.44% fee, and gained roughly 21% over the past year, trailing the S&P 500 but beating its Large Blend peers.