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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 Government Bond Active UCITS ETF EUR HedgedIndex, costs, backtest, listings and taxation

ISIN: IE0008P6LL15Ticker: JGEV (Borsa Italiana) · JGVE (Xetra) · JGEV (SIX)Issuer: JPMorgan
Issuer-declared data
Declared index
TER
0.23%
Transaction costs
0.30% (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
602.1 mln EUR
Domicile
Ireland
Inception date
4 June 2025
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 Government Bond Active UCITS ETF is an actively managed ETF: it does not track an index — the declared index (LGTRTRUU) is a comparison yardstick only. Mind the share class: this is the version hedged to EUR — returns reflect the index plus the effect (and cost) of hedging into that currency. The declared annual cost (TER) is 0.23%, plus 0.30% in transaction costs estimated by the issuer in the KID. Income is accumulated and reinvested in the fund. The fund has assets of about 602 million euro, was launched on 4 June 2025 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 longterm return in excess of the Benchmark by actively investing primarily in a portfolio of global government and government related debt securities.

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 issued or guaranteed by governments globally including agencies and local governments that are guaranteed by such governments, and/or those issued or guaranteed by supranational organisations globally. The Sub-Fund may also invest in government and/or government related debt securities which are unrated or from emerging markets. The Sub-Fund systematically includes ("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 are 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. In addition to ESG Integration, as an SFDR Article 8 fund, 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 is actively managed and will seek to outperform the Benchmark over the long-term. The Benchmark consists of fixed-rate, local currency government debt of investment grade countries, including both developed and emerging markets ("Benchmark Securities"). The Benchmark has been included as a point of reference against which the performance of the Sub-Fund may be measured. The Sub-Fund will resemble the composition and risk characteristics of its Benchmark; however, the Investment Manager's discretion may result in performance that differs from the Benchmark.

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 0.23%: 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) · EUR · from Jun 2025 to Sept 2026
Compare with another ETF
Only funds we hold a history for. Three at a time, at most.
Return
-0.8%
Annualised
-0.7%
Volatility (ann.)
2.7%
Max drawdown
-3.58%
-4%-2%+1%+3%+6%Jun 2025Sept 2025Jan 2026May 2026Sept 2026The break-even line: the value at the start of the period. Above it you are in gain, below in loss.break-even (0%)-1%Jun 2025Sept 2026
Currency-hedged share class: our figures are computed on the issuer’s NAV, where the hedge is applied at the daily fixing. Comparison sites using the exchange price may show returns and volatility that differ by 1–2 points: on hedged classes the price-vs-NAV gap is structurally wider and grows with the length of the window. Not a data error — a measurement convention. Details in the methodology.
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%-1%-2%-3%-4%20252026−3.58% · 19 May 2026
Max drawdown
-3.58%
peak → trough
Trough
19 May 2026
from the 27 Feb 2026 peak
Recovery time
not yet
recovery only: trough to break-even
Underwater
188 days
decline + recovery: peak to break-even · ≈ 6 months · (ongoing)

The five worst falls in the period

From the peak ofTroughDepthBack to break-evenDays underwater
28 Feb 202619 May 2026-3.58%ongoing187
22 Oct 202520 Jan 2026-1.23%17 Feb 2026118
01 Jul 202515 Jul 2025-1.00%05 Aug 202535
05 Aug 202502 Sept 2025-0.69%08 Sept 202534
11 Sept 202526 Sept 2025-0.47%10 Oct 202529

Calendar-year returns

2025
1.0%
2026
-1.8%

Month-by-month returns

JanFebMarAprMayJunJulAugSeptOctNovDecYear
20260.01.6-2.80.10.60.4-1.2-0.2-0.1-1.8
2025-0.40.10.50.8-0.2-0.51.0
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 year
Volatility (ann.)2.75%
Max drawdown-3.58%
Sharpe-1.16
Sortino-1.54
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, the fund's currency; the table follows the currency selected in the chart.

Duration and maturities

Duration · average duration
7.09years

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
8.17%
AA
24.05%
A
54.50%
BBB
12.53%
Cash and derivatives
0.75%

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
527
528 total lines: 1 cash & derivatives
Top-10 weight
31.8%

Top 10 holdings

F/C ICE 3MTH SONIA FU DEC26 · SFIZ6
9.54%
FRANCE (GOV 2.4% 09/24/29/EUR/ · FRTR
6.00%
US TREAS NTS 3.25% 06/30/29 · T
3.57%
US TREAS NTS 3.5% 04/30/28 · T
2.91%
JPN BANK 3.125% 04/22/31/EUR/ · JBIC
2.54%
BANK GOSPODARST 5.75% 07/09/34 · BGOSK
2.07%
US TREAS NTS 4% 07/31/29 · T
1.49%
AUSTRALIAN GO 2% 08/21/35/AUD/ · ACGB
1.31%
CHINA GOVE 1.87% 09/15/31/CNY/ · CGB
1.30%
US TREAS NTS 1.375% 11/15/31 · T
1.10%

Countries

AfghanistanAngolaAlbaniaUnited Arab EmiratesArgentinaArmeniaFrench Southern and Antarctic LandsAustralia: 2.2%Austria: 0.4%AzerbaijanBurundiBelgium: 0.7%BeninBurkina FasoBangladeshBulgariaThe BahamasBosnia and HerzegovinaBelarusBelizeBoliviaBrazilBruneiBhutanBotswanaCentral African RepublicCanada: 2.1%Switzerland: 0.2%Chile: 0.6%China: 10.3%Ivory CoastCameroonDemocratic Republic of the CongoRepublic of the CongoColombiaCosta RicaCubaCyprusCzech Republic: 1%Germany: 2.2%DjiboutiDenmark: 0.1%Dominican RepublicAlgeriaEcuadorEgyptEritreaSpain: 4.5%EstoniaEthiopiaFinland: 0.2%FijiFalkland IslandsFrance: 11.4%GabonUnited KingdomGeorgiaGhanaGuineaGambiaGuinea BissauEquatorial GuineaGreeceGreenlandGuatemalaFrench GuianaGuyanaHondurasCroatiaHaitiHungary: 0.8%Indonesia: 0.5%IndiaIreland: 0.2%IranIraqIcelandIsrael: 0.4%Italy: 5.2%JamaicaJordanJapan: 15.4%KazakhstanKenyaKyrgyzstanCambodiaSouth Korea: 1.5%KosovoKuwaitLaosLebanonLiberiaLibyaSri LankaLesothoLithuania: 0.4%LuxembourgLatviaMoroccoMoldovaMadagascarMexico: 3.8%MacedoniaMaliMyanmarMontenegroMongoliaMozambiqueMauritaniaMalawiMalaysia: 0.5%NamibiaNew CaledoniaNigerNigeriaNicaraguaNetherlandsNorway: 0.1%NepalNew Zealand: 0.2%OmanPakistanPanamaPeru: 0.1%PhilippinesPapua New GuineaPoland: 5.2%Puerto RicoNorth KoreaPortugal: 0.4%ParaguayQatarRomania: 0.1%RussiaRwandaWestern SaharaSaudi ArabiaSudanSouth SudanSenegalSolomon IslandsSierra LeoneEl SalvadorSomaliaRepublic of SerbiaSurinameSlovakia: 0.7%SloveniaSweden: 0.1%SwazilandSyriaChadTogoThailand: 0.6%TajikistanTurkmenistanEast TimorTrinidad and TobagoTunisiaTurkeyTaiwanUnited Republic of TanzaniaUgandaUkraineUruguayUnited States of America: 11.9%UzbekistanVenezuelaVietnamVanuatuWest BankYemenSouth AfricaZambiaZimbabwe
up to 1%1–5%5–15%15–30%over 30%
Hover a country for its percentage.
Top 7 countries
Japan15.4%
United Kingdom13.7%
United States11.9%
France11.4%
China10.3%
Italy5.2%
Poland5.2%
⬇ Download the full portfolio — Excel, 528 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 IE0008P6LL15 (share class JPM - EUR Hedged (acc)). The other classes belong to the same fund but may differ in currency, income policy or currency hedging.
Share classISINTickerIncomeCurrency
JPM - EUR Hedged (acc) · this pageIE0008P6LL15JGEVAccumulatingEUR
JPM - USD (acc)IE000JS4ANL9JGOVAccumulatingUSD
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.

Index tracked

LGTRTRUU
This fund belongs to the government bonds family: compare all census ETFs in this family →

Italian taxation

Effective rate on capital gains
13.37%
White-list share
93.57%
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 →

Stock exchange listings

ExchangeTickerTrading since
Borsa Italiana (ETFplus)JGEV12 Jun 2025
Börse DüsseldorfJGVE12 Jun 2025
Börse FrankfurtJGVE12 Jun 2025
Börse HamburgJGVE2 Sept 2025
Börse HannoverJGVE4 Sept 2025
Börse München / gettexJGVE12 Jun 2025
Börse StuttgartJGVE12 Jun 2025
Tradegate ExchangeJGVE19 Jun 2025
Xetra (Deutsche Börse)JGVE12 Jun 2025
+ 11 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 Government Bond Active UCITS ETF track?
The issuer JPMorgan declares the benchmark: LGTRTRUU.
How much does JGEV cost?
The issuer-declared TER is 0.23% per year; the transaction costs estimated in the KID are 0.30%.
How is JGEV taxed in Italy?
On sale, the capital gain is taxed at an effective 13.37% rate (white-list share 93.57%): 12.5% on the government-bond “white list” portion, 26% on the rest.
What is the fund size of JGEV?
The fund size declared by JPMorgan is about 602 million euro.
When was JGEV launched?
The fund was launched on 4 June 2025: it has 1 year of history.
Is JGEV actively or passively managed?
It is an ACTIVELY managed ETF: the manager picks the holdings, it does not replicate an index. The declared benchmark (LGTRTRUU) is a yardstick for comparison, not an index being tracked.
Does JGEV pay dividends?
No: it is an accumulating share class — income stays in the fund and is reinvested automatically (issuer wording: “Accumulation”).
Where does JGEV trade?
Per the official ESMA register it trades on 9 main exchanges, including Borsa Italiana (ETFplus) (JGEV), Börse Düsseldorf (JGVE), Börse Frankfurt (JGVE), Börse Hamburg (JGVE), Börse Hannover (JGVE), Börse München / gettex (JGVE).
What was JGEV's worst fall?
Over the available history (since 2025), the maximum drawdown was -3.58%, reached in May 2026. Past performance is not indicative of future results.
How many securities does JGEV hold?
The declared portfolio holds 527 securities (plus 1 cash & derivative lines); the top 10 positions weigh 31.8%.
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.