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Actively managed: it does not track an index — the declared benchmark is a yardstick for comparison
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Global Aggregate Bond Active UCITS ETFIndex, costs, backtest, listings and taxation

ISIN: IE0006MM8VN6Ticker: JAGA (Borsa Italiana) · JAGA (Xetra) · JAAG (London SE) · JAGA (SIX)Issuer: JPMorgan
Issuer-declared data
Declared index
LEGATRUU
TER
0.31%
Transaction costs
0.41% (issuer estimate, from the KID)
Management
Active management (from the KID)
Replication
Gestione attiva (dal KID)
Income policy
SFDR
Article 8 — promotes environmental or social characteristics what does it mean?
Fund assets
373.6 mln EUR
Domicile
Ireland
Inception date
11 October 2023
Data as declared by JPMorgan in the issuer’s official files and endpoints · collected on 2 September 2026 (monthly refresh). Facts only, no recommendation.
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Description

Global Aggregate Bond Active UCITS ETF is an actively managed ETF: it does not track an index — the declared index (LEGATRUU) is a comparison yardstick only. The declared annual cost (TER) is 0.31%, plus 0.41% in transaction costs estimated by the issuer in the KID. Income is accumulated and reinvested in the fund. The fund has assets of about 374 million euro, was launched on 11 October 2023 and is domiciled in Ireland.

The fund’s objective — in the issuer’s words

Investment Objective: The objective of the Sub-Fund is to achieve a long-term return in excess of Bloomberg Global Aggregate Index Total Return USD Unhedged ("the Benchmark") by actively investing primarily in a portfolio of investment grade debt securities, globally, using financial derivative instruments to gain exposure to underlying assets, where appropriate.

Keep reading the KID section ▾

Investment Policy:The Sub-Fund pursues an actively-managed investment strategy. The Sub-Fund aims to invest at least 67% of its assets (excluding assets held for ancillary liquidity purposes) in investment grade debt securities (including ABS/MBS), either directly or through the use of financial derivative instruments ("FDI"). Issuers of these securities may be located in any country, including emerging markets. The Sub-Fund systematically includes environmental, social and governance ("ESG") analysis in its investment decisions on at least 75% of non-investment grade and emerging market sovereign securities and 90% of investment grade securities purchased. Pursuant to the Sub-Fund's ESG analysis, at least 51% of the Sub-Fund's Net Asset Value is invested in issuers with positive environmental and/or social characteristics that follow good governance practices, as measured through the Investment Manager's proprietary ESG scoring methodology and/or third party data. The Sub-Fund promotes environmental and/or social characteristics. The Sub-Fund invests at least 10% of its Net Asset Value in Sustainable Investments, as defined under SFDR, contributing to environmental or social objectives. The Investment Manager evaluates and applies values and norms based screening to implement exclusions on certain industries and issuers based on specific ESG criteria and/or minimum standards of business practice based on international norms. To support this screening, the Investment Manager relies on third party provider(s) who identify an issuer's participation in or the revenue which they derive from activities that are inconsistent with the values and norms based screens. The list of screens applied that may result in exclusions can be found on the Website (www. jpmorganassetmanagement.ie). The Sub-Fund will seek to outperform the Benchmark over the long- term. The Benchmark consists of multi-currency treasury, government-related, corporate and securitized fixed-rate bonds from developed and emerging markets issuers ("Benchmark Securities"). The Benchmark has been included as a point of reference against which the performance of the Sub

From the KID’s “Objectives” section · 4 August 2026 · original document ↓
Text generated from the data the issuer declares in official product lists. No recommendation.

Quick reads

  • TER 0.31%: above the median of bond ETFs we track (0.15%).
Comparisons computed by Rebalix on the declared data in our census; they describe the past and are not indicative of future results.

Official documents

Key Information Document (KID)PDF in English, from the issuer’s site — always the latest filed versionProspectusPDF in English, from the issuer’s site — the fund’s full legal documentFactsheetPDF in Italian, from the issuer’s site — the fund’s monthly snapshot
The KID is the document the law requires you to read before investing: 3 pages covering risks, costs and scenarios. The link opens the issuer’s published PDF.

Fund performance

issuer-declared net asset value (NAV) · USD · from Oct 2023 to Sept 2026
Compare with another ETF
Only funds we hold a history for. Three at a time, at most.
Return
+15.1%
Annualised
+5.0%
Volatility (ann.)
5.6%
Max drawdown
-7.33%
-5%+2%+8%+15%+21%Oct 2023Jul 2024Mar 2025Dec 2025Sept 2026The break-even line: the value at the start of the period. Above it you are in gain, below in loss.break-even (0%)+15%Oct 2023Sept 2026
Note — currency risk: the fund is denominated (or hedged) in USD and the chart is in USD. For a euro investor, returns also depend on the EUR/USD exchange rate, up or down.
Tip: drag across the chart to zoom into a period.

Drawdown — distance from previous peak

This isn’t the return: it shows how far the fund is below its previous peak. 0% = you’re at the peak; below zero = how much you’re down and haven’t recovered yet.
0%-2%-4%-6%-8%-10%2023202420252026−7.33% · 13 Jan 2025
Max drawdown
-7.33%
peak → trough
Trough
13 Jan 2025
from the 16 Sept 2024 peak
Recovery time
150 days
recovery only: trough to break-even · ≈ 5 months
Underwater
269 days
decline + recovery: peak to break-even · ≈ 9 months · → recovered on 12 Jun 2025

The five worst falls in the period

From the peak ofTroughDepthBack to break-evenDays underwater
16 Sept 202413 Jan 2025-7.33%12 Jun 2025269
27 Dec 202316 Apr 2024-4.87%02 Aug 2024219
28 Feb 202627 Mar 2026-4.48%ongoing187
11 Oct 202319 Oct 2023-1.96%03 Nov 202323
01 Jul 202531 Jul 2025-1.74%13 Aug 202543

Calendar-year returns

2023
8.0%
2024
-1.6%
2025
8.6%
2026
-0.3%

Month-by-month returns

JanFebMarAprMayJunJulAugSeptOctNovDecYear
20261.20.9-3.91.50.8-0.4-0.80.50.1-0.3
20250.71.40.33.1-0.72.2-1.51.70.7-0.20.10.58.6
2024-1.4-1.30.7-2.41.3-0.23.02.41.8-3.60.4-2.2-1.6
20235.14.58.0
From month-end NAVs, over the fund’s full history, on the series shown in the chart (dividends reinvested where declared). Deeper colour = larger move.
Source: JPMorgan. Issuer-declared historical series; inflation: Eurostat and national statistical institutes, latest available July 2026 — for later days the index stays at the last published value (institutes publish with a few weeks’ lag). The «adjusted for inflation» view expresses value in today’s purchasing power for the selected country; volatility always stays nominal, as elsewhere on the site (deflating it would add artificial swings caused by the monthly cadence of the price index). Past performance is not indicative of future results: these are facts, not a recommendation.

Risk indicators· EUR

Last yearLast 3 years
Volatility (ann.)4.82%6.29%
Max drawdown-3.16%-7.65%
Sharpe-0.13-0.21
Sortino-0.18-0.29
Windows longer than the available price history cannot be computed and are not shown: they will appear on their own as time passes. Computed from the daily NAV series, always in nominal terms. Sharpe and Sortino use the ECB main refinancing rate averaged over the period (last year: 2.20%), weighted by days in force, as the risk-free rate. Same formulas as our public methodology: sample standard deviation annualised over 252 days; Sortino with downside deviation. Past performance is not indicative of future results. Figures in EUR — series converted day by day at ECB reference rates; the table follows the currency selected in the chart.

Duration and maturities

Duration · average duration
6.52years

Price sensitivity to rates: the longer, the more the fund moves. What is duration →

Source: factsheet JPMorgan, data as of 31 July 2026. Values as declared by the issuer, not computed by us; updated with the monthly document.

Credit rating

How the portfolio is spread by credit quality: from AAA (strongest) downwards. More weight in the top buckets = lower risk that an issuer fails to pay, usually with lower yields.

Rating breakdown (% of fund)
AAA
6.26%
AA
40.75%
A
20.13%
BBB
25.69%
< BBB
6.94%

Source: factsheet JPMorgan, data as of 31 July 2026. Values as declared by the issuer, not computed by us; updated with the monthly document.

Ratings are those the issuer assigns to portfolio holdings under its own methodology (usually the median of S&P, Moody’s and Fitch); scale and buckets are those of the original document.

Portfolio holdings

Securities in portfolio
479
480 total lines: 1 cash & derivatives
Top-10 weight
41.7%

Top 10 holdings

F/C ICE 3MTH SONIA FU DEC26 · SFIZ6
13.33%
UNITED KI 4.125% 03/07/31/GBP/ · UKT
8.50%
US TREAS NTS 4.25% 07/31/28 · T
3.94%
US TREAS NTS 4.375% 07/31/33 · T
3.46%
US TREAS NTS 3.625% 10/31/30 · T
3.33%
US TREAS NTS 3.75% 04/30/28 · T
2.09%
UNITED KIN 4.75% 10/22/35/GBP/ · UKT
1.93%
PROVINCE OF 3.6% 09/01/33/CAD/ · Q
1.83%
CHINA GOVE 2.15% 08/25/55/CNY/ · CGB
1.72%
US TREAS BDS 4.75% 02/15/45 · T
1.61%

Countries

AfghanistanAngolaAlbaniaUnited Arab EmiratesArgentinaArmeniaFrench Southern and Antarctic LandsAustralia: 0.4%Austria: 0.1%AzerbaijanBurundiBelgium: 0.4%BeninBurkina FasoBangladeshBulgariaThe BahamasBosnia and HerzegovinaBelarusBelizeBoliviaBrazilBruneiBhutanBotswanaCentral African RepublicCanada: 3.4%Switzerland: 0.4%ChileChina: 3.2%Ivory CoastCameroonDemocratic Republic of the CongoRepublic of the CongoColombia: 0.2%Costa RicaCubaCyprusCzech Republic: 0.7%Germany: 4.9%DjiboutiDenmark: 0.2%Dominican RepublicAlgeriaEcuador: 0.3%Egypt: 0.2%EritreaSpain: 2.4%EstoniaEthiopiaFinlandFijiFalkland IslandsFrance: 3.4%GabonUnited KingdomGeorgiaGhana: 0.1%GuineaGambiaGuinea BissauEquatorial GuineaGreeceGreenlandGuatemalaFrench GuianaGuyanaHondurasCroatiaHaitiHungary: 0.5%Indonesia: 0.1%India: 0.8%Ireland: 2.3%IranIraqIcelandIsraelItaly: 3.7%JamaicaJordanJapan: 2.1%KazakhstanKenya: 0.1%KyrgyzstanCambodiaSouth KoreaKosovoKuwaitLaosLebanonLiberiaLibyaSri Lanka: 0.1%LesothoLithuaniaLuxembourg: 1.3%LatviaMorocco: 0.6%MoldovaMadagascarMexico: 1.7%MacedoniaMaliMyanmarMontenegroMongoliaMozambiqueMauritaniaMalawiMalaysiaNamibiaNew CaledoniaNigerNigeriaNicaraguaNetherlands: 1.9%NorwayNepalNew Zealand: 0.5%OmanPakistan: 0.1%PanamaPeru: 0.1%PhilippinesPapua New GuineaPoland: 0.7%Puerto RicoNorth KoreaPortugalParaguayQatarRomania: 0.4%RussiaRwandaWestern SaharaSaudi ArabiaSudanSouth SudanSenegalSolomon IslandsSierra LeoneEl SalvadorSomaliaRepublic of SerbiaSurinameSlovakiaSloveniaSwedenSwazilandSyriaChadTogoThailandTajikistanTurkmenistanEast TimorTrinidad and TobagoTunisiaTurkeyTaiwanUnited Republic of TanzaniaUgandaUkraineUruguayUnited States of America: 42.2%UzbekistanVenezuelaVietnamVanuatuWest BankYemenSouth Africa: 0.5%ZambiaZimbabwe
up to 1%1–5%5–15%15–30%over 30%
Hover a country for its percentage.
Top 7 countries
United States42.2%
United Kingdom15.9%
Germany4.9%
Italy3.7%
Canada3.4%
France3.4%
China3.2%
⬇ Download the full portfolio — Excel, 480 rows
Full portfolio declared by JPMorgan, as of 1 September 2026: this is the summary. Percentages may not sum to 100 due to cash, derivatives and rounding.
Fund historyFund-assets (AUM) chart year by year and monthly basket snapshots.Open the history →

Share classes of the same fund

This page covers ISIN IE0006MM8VN6 (share class JPM - USD (acc)). The other classes belong to the same fund but may differ in currency, income policy or currency hedging.
Share classISINTickerIncomeCurrency
JPM - USD (acc) · this pageIE0006MM8VN6JAGAAccumulatingUSD
JPM - EUR Hedged (acc)IE000PQQLZM7JAGEAccumulatingEUR
Share classes declared by the issuer in official product lists (same fund = same issuer and same declared name). A dash “—” = not declared — not a zero.

Italian taxation

Effective rate on capital gains
19.30%
White-list share
49.66%
From the government-bond («white list») share certified by the issuer every semester: 12.5% on that portion, 26% on the rest.
Deep-dive into this fund’s taxation →

Where it shows up commission-free in Italy

According to the official lists published by the brokers (downloaded and cross-checked by us), these share classes of the fund appear tradable with zero fees:

IE000PQQLZM7JAGE(class: EUR Hedged (acc))
  • XTBzero (up to €100,000 monthly volume, unreachable for a retail plan); fractions available in plans
Full terms, traps and method in the observatory: Free savings plans and zero-commission ETFs: the broker survey

Official lists verified on 3 September 2026. We record published terms — this is neither an invitation to open accounts nor a recommendation: lists change, the broker’s documents prevail. Trade Republic, Scalable Capital and Trading 212 publish no per-ISIN lists and don’t appear here.

Stock exchange listings

ExchangeTickerTrading since
Borsa Italiana (ETFplus)JAGA18 Oct 2023
Börse DüsseldorfJAGA18 Oct 2023
Börse FrankfurtJAGA18 Oct 2023
Börse HamburgJAGA2 Sept 2025
Börse HannoverJAGA9 Dec 2024
Börse München / gettexJAGA18 Oct 2023
Börse StuttgartJAGA21 Feb 2025
Tradegate ExchangeJAGA27 Oct 2023
Xetra (Deutsche Börse)JAGA18 Oct 2023
+ 9 more trading venues (MTFs and professional platforms).
Trading venues from the official ESMA register (FIRDS); per-exchange tickers from the issuer’s tax documents and official listings. A dash “—” = that venue does not publish the item (ticker, currency or start date) in the sources we read. The same fund may trade in different currencies depending on the exchange: check the trading currency with your broker. Non-EU listings (e.g. UK, Mexico) not included.

Frequently asked questions

Which index does Global Aggregate Bond Active UCITS ETF track?
The issuer JPMorgan declares the benchmark: LEGATRUU.
How much does JAGA cost?
The issuer-declared TER is 0.31% per year; the transaction costs estimated in the KID are 0.41%.
How is JAGA taxed in Italy?
On sale, the capital gain is taxed at an effective 19.30% rate (white-list share 49.66%): 12.5% on the government-bond “white list” portion, 26% on the rest.
What is the fund size of JAGA?
The fund size declared by JPMorgan is about 374 million euro.
When was JAGA launched?
The fund was launched on 11 October 2023: it has 2 years of history.
Is JAGA actively or passively managed?
It is an ACTIVELY managed ETF: the manager picks the holdings, it does not replicate an index. The declared benchmark (LEGATRUU) is a yardstick for comparison, not an index being tracked.
Does JAGA pay dividends?
No: it is an accumulating share class — income stays in the fund and is reinvested automatically (issuer wording: “Accumulation”).
Where does JAGA trade?
Per the official ESMA register it trades on 9 main exchanges, including Borsa Italiana (ETFplus) (JAGA), Börse Düsseldorf (JAGA), Börse Frankfurt (JAGA), Börse Hamburg (JAGA), Börse Hannover (JAGA), Börse München / gettex (JAGA).
What was JAGA's worst fall?
Over the available history (since 2023), the maximum drawdown was -7.33%, reached in January 2025. Past performance is not indicative of future results.
How many securities does JAGA hold?
The declared portfolio holds 479 securities (plus 1 cash & derivative lines); the top 10 positions weigh 41.7%.
Transparency note
The data in this sheet is declared by JPMorgan in the issuer’s official files and endpoints, collected by Rebalix with a monthly refresh; taxation derives from the issuer’s tax documents (Italian Law Decree 138/2011). This is factual information for informational purposes only: it is not financial or tax advice, nor an investment recommendation. Read the fund’s KID and prospectus before investing.