Ford is recalling more than 422,000 vehicles in the U.S. over a windshield wiper failure, federal regulators said on Tuesday.

The recall includes Lincoln Navigator and Ford Expedition SUVs, as well as some F-series trucks, the National Highway Traffic Safety Administration (NHTSA) said. Specific vehicles that may be involved include the model year 2021-2023 Lincoln Navigator, 2021-2023 Ford Expedition, and the 2022-2023 Ford Super Duty.

A total of 422,613 vehicles are subject to the recall, while the share of vehicles with the defect is estimated to be 3% of the recalled vehicles.

Windshield wiper arms may operate erratically or may break, causing the wipers to fail, according to NHTSA.

FORD RECALLS MORE THAN 83,000 VEHICLES OVER HEADLIGHT, ENGINE VALVE ISSUES

The safety agency noted that there may be a warning for drivers that the windshield wiper may fail, as drivers “may experience erratic wipe speed of the driver or passenger wiper arm.”

“An improperly functioning or detached wiper arm may impair driver vision, increasing the risk of a crash,” NHTSA’s description of the defect said.

“The windshield wiper arm’s latch retention plate may have been incorrectly staked at the supplier. The latch retention plate keeps the arm head properly seated to the wiper arm. Additionally, the engagement between the knurl and wiper arm may be reduced due to dimensional variability. Proper knurl-to-arm head teeth engagement ensures robust wiper arm operation,” the agency said.

FORD RECALLS 1.74 MILLION VEHICLES DUE TO REARVIEW CAMERA BLACKOUTS, ISSUES

Production improvements at the supplier in December 2022 addressed issues that led to the defective wiper arms, which is why the recall is limited to vehicles made in a specific timeframe.

NHTSA’s recall report said that Ford isn’t aware of any accidents or injuries related to the wiper issue.

NHTSA said that the notification to dealers was expected to occur on April 1, with the mailing of notices to interim owners expected to begin on April 13 and be completed by April 17.

FORD RECALLS MORE THAN 615,000 VEHICLES OVER WIPER, DRIVESHAFT DEFECTS

Owners of potentially affected vehicles were expected to be able to search VINs as of April 1.

Ticker	Security	Last	Change	Change %
F	FORD MOTOR CO.	11.54	-0.07	-0.56%

The remedy for the issue is expected to include an inspection of windshield wipers and their potential replacement.

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Wiper arms that don’t pass the inspection will be replaced. The replacement wiper arms that are used in this process will be made with correct staking of the latch retention plate, and wiper arm splines within specifications, according to NHTSA.

Reuters contributed to this report.

As a strong supporter of our great military’s Operation Epic Fury, and someone who has great faith in President Trump and his judgement, I do feel obliged to weigh in on the fact that any deal cobbled together too quickly runs the risk of making the next Iranian conflict more likely, not less. I’m worried that a poor deal today could mean a bigger war tomorrow. When I sat down with Mr. Trump for our interview eight weeks ago, I raised the concern that no one can ever believe anything Iran says.

As a former Reagan guy, I am always acutely sensitive to the Gipper’s phrase “trust but verify.” Over the past five decades, numerous American presidents have made deals with Iran that were never verified. International nuclear authorities have never been able to verify Iranian promises or activities. And, as Mr. Trump has said, the whole issue was boiled over with Iran’s shocking imminent nuclear threat with enriched uranium that is greater than anyone thought. And with intercontinental ballistic missile capability with a range that is longer than anyone thought. And once again, Iran is bottling up the Strait of Hormuz in an attempt for worldwide economic blackmail.

There’s so much that we don’t know yet regarding discussions that are mostly indirect. And even now it seems that Iran has cut off any communications with America. Yet just looking at the positions of the two sides, Iran wants an end to conflicts in the region, a protocol for safe passage through the Hormuz Strait, reparations and reconstruction, and lifting sanctions. That’s their position.

Mr. Trump’s key points have been a complete end to all nuclear capabilities and facilities. No uranium enrichment on Iranian soil. Handing over Iran’s stockpile of enriched uranium to the international atomic energy agency, completely decommissioning and dismantling of their nuclear sites at Fordow, Isfahan, and Natanz sites. Plus a complete end to their state sponsorship of terrorism. And an end to supporting proxy terrorist groups. A dismantling of their ballistic missile programs. And reopening the Strait of Hormuz. In other words, the two sides remain monumentally far apart, as far as we know.

So, a deal looks to be impossible. A few quotes from Mr. Trump suggest that there is no deal. When reporter asked “if Iran does not meet your demands, Mr. President, are you willing to continue the war?” Mr. Trump replied: “We’ll you’ll have to watch.” The reporter followed up: “Are you committing …” Mr. Trump then responded: “The answer is yes, but you have to watch.” He added that “the entire country can be taken out in one night, and that night might be tomorrow night.” He said “we have, we have a plan, because of the power of our military, where every bridge in Iran will be decimated by 12:00 tomorrow night, where every power plant in Iran will be out of business, burning, exploding, and never to be used again. I mean, complete demolition by 12:00.”

Meanwhile, any talk of ceasefires or deal extensions should be rejected. This is Iran’s game. They have been playing it for decades. They love to string things along. They are experts at playing their adversaries. They love to stall. To postpone. To argue over location. Or who is invited to the high table. They’ve been doing this for so long, and I hope that Mr. Trump doesn’t let them get away with it. I doubt that he will, because he’s a man of action and instinct. He knows that letting Iran play these games with him, he will lose international respect. He knows that if he ever walked away without reopening Hormuz, it would make him look weak. And he is never weak. Ever. He is transparently a man of his word.

In all likelihood, a few ticks of the clock after 8 P.M. Eastern time will be met by the final war push by America and presumably Israel. Mr. Trump knows that at this moment, he can change history. He can end all of Iran’s capabilities: nuclear, terrorist, missiles, Hormuz, all of it. He can bring freedom and prosperity to the Middle East and the rest of the world. He can end a scourge of civilization. He can also become one of the greatest presidents in American history.

European and Asian refiners are paying record high prices of near $150 a barrel for some crude oil grades, far exceeding prices for paper futures, highlighting the worsening supply crisis from the U.S.-Israel ‌war with Iran.

The ⁠Iran ⁠war has forced the shutdown of at least 12 million barrels per day – about 12% of world supply – ​from the Middle East due to Iran’s effective closure of the Strait of Hormuz. As a result, ​Brent oil futures reached $119.50 a barrel last month, the highest since 2022 although still short of the 2008 record high of $147.50. The nearby Brent contract is for June delivery.

Competition for supply ​from Asian and European refiners to replace disrupted Middle Eastern ⁠oil flows ‌has helped to drive up the prices of replacement crudes for ​more immediate delivery, such ​as those in Europe and Africa.

As a result, some crudes ⁠are hitting records already. The outright price of North Sea Forties ​crude reached $146.09 a barrel on Tuesday, according to LSEG data, ​above the 2008 level and an all time high.

The main driver of prices such as that of Forties is “panic” over supplies, said Adi Imsirovic, a veteran oil trader. “When there is a real, physical shortage, people are not thinking about July delivery – June loading and hence June futures prices – but oil NOW.”

The price of Forties and many other cargoes around the ‌world is linked to the physical crude benchmark called dated Brent which is trading almost $20 higher than the price of Brent futures for June ​delivery according to ​LSEG data because it ⁠reflects the price of cargoes for immediate delivery.
“At the moment, the market is scrambling for prompt, refinery-usable barrels, and stress is appearing first in the part of the benchmark that is closest to the immediate physical problem,” Morgan Stanley analysts said in a report.Prices of refined products in Europe were close to record highs on Tuesday.

Jet fuel prices in Europe hovered at $226.40 a barrel, close to a record high hit in mid-March. Diesel prices were still shy of their record highs hit in 2022, standing at $203.59 a barrel on Tuesday.

Fast Facts About The JPMorgan International Value ETF

The JPMorgan International Value ETF (JIVE) is an actively managed ETF launched on September 13, 2023, with an objective of long-term capital appreciation. JIVE has a portfolio of 337 companies, a trailing 12-month yield of 2.67%, a 30-day SEC yield of 3.12%, and an expense ratio of 0.55%. Distributions are paid annually. It is quite a large and liquid ETF, with about $2 billion in assets under management (“AUM”) and an average daily dollar trading volume of $30 million. The fund’s sponsor, JP Morgan (JPM), is a leading global financial services firm with about $3.9 trillion of assets.

Strategy

As described in the prospectus by JP Morgan, the fund may invest in both developed (ex-U.S.) and emerging markets and intends to maintain geographic and sector exposures similar to those of the MSCI ACWI ex USA Value Index. Value companies are primarily identified based on price/sales, price/earnings, and price/net assets ratios. The investing process blends quantitative screens and in-depth fundamental analysis. The fund may also invest in ETFs and use derivatives for investing and hedging purposes. Exposure in certain currencies may be hedged with currency forwards from time to time, even though the fund is generally not currency-hedged.

The portfolio’s turnover rate was 46% in the most recent fiscal year. This article will use the iShares Core MSCI Total International Stock ETF (IXUS) as a benchmark. IXUS tracks the MSCI ACWI ex USA IMI Index.

The JIVE Portfolio

The portfolio is mostly invested in large- and mega-cap companies (about 75% of asset value), with notable exposure in Japan (15.3%) and the U.K. (10.7%). The geographical allocation is close to that of IXUS, although JIVE significantly downplays Canada and Taiwan.

The fund has a focus on financials (34.5% of asset value), in particular banks (22.5%). The second heaviest sector (energy) weighs only 12%. Compared to the benchmark, JIVE overweights financials and energy, while it mostly downplays technology and industrials.

The portfolio is well-diversified, with low company-specific risk. The top 10 issuers, listed in the next table, represent 15.4% of asset value, and the largest position weighs 2.65%.

Fundamentals

In accordance with the strategy description, JIVE has strong value characteristics. It is much cheaper than IXUS based on valuation ratios and has lower growth rates, as reported in the table below.

Data source: Fidelity

Portfolio composition and fundamental metrics are given as an example from April 7, 2026. They may have changed by the time you read this.

Performance

JIVE has greatly outperformed IXUS, by 9.7% annualized from its inception to the present, with similar risk measured by maximum drawdown and volatility.

Data: Portfolio123

JIVE is 18% ahead of IXUS just over the 12 months prior to April 7, 2026, again with similar risk metrics.

JIVE Vs. Competitors

The next table compares characteristics of JIVE and five international value ETFs without currency hedges:

• Schwab Fundamental International Equity ETF (FNDF).
• Dimensional International Value ETF (DFIV).
• iShares MSCI International Value Factor ETF (IVLU).
• Avantis International Large Cap Value ETF (AVIV).
• VictoryShares International Value Momentum ETF (UIVM).

This list is not intended to be exhaustive.

* Calculated with Portfolio123 from 9/20/2023.

JIVE has the highest expense ratio and is the best performer based on total return and Sharpe ratio (a measure of risk-adjusted return) since its inception.

Takeaway

JIVE holds over 300 international value stocks with a focus on large companies. The fund has low company-specific risk, moderate country risk, but high sector risk in financials. JIVE has greatly outperformed the ex-U.S. benchmark IXUS and its closest competitors since its inception, with similar volatility. JIVE is best suited for investors seeking exposure in international value as a long-term holding or for tactical allocation.

• Pros: low company and country risks, superior risk-adjusted return.
• Cons: financial sector risk, high expense ratio.

This article answers these three main questions about JIVE:

1. How is the JIVE portfolio structured?
2. How does JIVE compare to a benchmark and competitors?
3. What kind of strategy is JIVE best suited for?