J.P. Morgan Asset Management is closing two of its climate-themed ETFs in the fall, highlighting a wider pullback from specialty ESG offerings on Wall Street.
Wave of ESG Fund Closures Across Wall Street
The dissolutions reflect a cooling of the once-red-hot ESG trend. After years of rapid launches, many smaller climate and sustainability ETFs have struggled to attract scale, leaving them vulnerable to liquidation. Industry analysts say investors have been rotating toward broader, more liquid products while scrutinizing ESG strategies amid political pushback and uneven performance.
For J.P. Morgan, the move is a rebalancing, not a retreat, from ETFs. The $3.8 trillion asset manager as of June 30, still maintains a broad line-up of equity, fixed income, and alternative strategies.
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