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Actively managed: it does not track an index — the declared benchmark is a yardstick for comparison
🇮🇹 Effective capital-gains rate: 26.00%details →

Strategic Allocation Growth Active UCITS ETFIndex, costs, backtest, listings and taxation

ISIN: IE000MVWFDH1Ticker: JMAG (Borsa Italiana) · JMAG (Xetra) · JMAG (London SE) · JMAG (SIX)Issuer: JPMorganClass: JPM - EUR (acc)
Issuer-declared data
TER
0.35%
Transaction costs
0.07% (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
6.3 mln EUR
Domicile
Ireland
Inception date
21 January 2026
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

Strategic Allocation Growth Active UCITS ETF is an actively managed ETF: it does not track an index. It is a multi-asset (balanced) ETF: a single instrument combining several asset classes — typically stocks and bonds — in the proportions set by its strategy. The declared annual cost (TER) is 0.35%, plus 0.07% in transaction costs estimated by the issuer in the KID. Income is accumulated and reinvested in the fund. The fund has assets of about 6 million euro, was launched on 21 January 2026 and is domiciled in Ireland. In our registry there are 16 other multi-asset ETFs.

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

based screening in its selection and oversight of the Underlying Funds, to seek Investment Objective: The objective of the Sub-Fund is to provide long-term to ensure that the Underlying Funds' exclusionary standards are consistent with capital growth by investing in a multi-asset portfolio, with the potential for the Sub-Fund. typically high levels of price fluctuations. At least 90% of the portion of the Sub-Fund invested in assets other than assets

Keep reading the KID section ▾

Investment Policy:The Sub-Fund will have exposure to a multi-asset portfolio of held for ancillary liquidity purposes and derivatives for efficient portfolio equity and debt securities issued globally, through investing all of its assets management, will be invested in UCITS eligible actively managed or index (excluding assets held for ancillary liquidity purposes and derivatives for tracking collective investment schemes including exchange-traded funds efficient portfolio management) in UCITS eligible actively managed or index which are categorised as either SFDR Article 8 or SFDR Article 9 funds. These tracking collective investment schemes including exchange-traded funds Underlying Funds will be category 1 or 2 for the purposes of the position and which are categorised as either SFDR Article 8 or SFDR Article 9 funds recommendation DOC-2020-03 of the French Autorité des Marchés Financiers managed by the Investment Manager or other members of JPMorgan Chase & (AMF). Co ("Underlying Funds"), with no more than 10% of its Net Asset Value in index The Sub-Fund is actively managed. The Investment Manager uses the tracking Underlying Funds. The Underlying Funds will be domiciled in Ireland, Benchmark for risk comparison purposes. Though a proportion of the Luxembourg or elsewhere in the European Union. investments to which it will be exposed through its investments in Underlying The Sub-Fund will typically have an exposure to equities ranging from 70% to Funds are likely to be represented in the Benchmark, the Investment Manager 90% of Net Asset Value, and an exposure to fixed income ranging from 10% to has broad discretion to deviate from its composition, while seeking to maintain 30% of Net Asset Value. While the Sub-Fund will seek to maintain broadly the a consistent longer-term risk profile with that of the Benchmark. The degree to specified allocation of equity and fixed income exposure, the Sub-Fund's actual exposure to these asset classes may deviate from time to time due to factors which the Sub-Fund may resemble the composition and risk characteristics of the Benchmark will vary over time and its performance may be meaningfully such as market value fluctuations or adjustments in the investment universe of the Underlying Funds. different. The Sub-Fund will not seek to track the performance of or replicate the The equity exposure of the Sub-Fund's portfolio will comprise mainly shares or Benchmark, rather the Sub-Fund will have exposure to a portfolio of equity and equity securities relating to large and mid-capitalisation companies. The fixed debt securities (which may include but will not be limited to Benchmark income exposure of the Sub-Fund's portfolio will comprise mainly investment securities) via direct investment in Underlying Funds which are actively grade debt securities issued by governments or corporate issuers, however the selected with the aim of delivering an investment performance which seeks to Sub-Fund may also have exposure to below investment grade and unrated debt achieve the investment objective of the Sub-Fund. securities. Issuers of the equity and debt securities may be located in any The Sub-Fund may invest in assets denominated in any currency and currency country globally, including emerging markets and China. The Sub-Fund will seek to achieve its investment objective through its strategic exposure in the Sub-Fund may be managed by reference to the Benchmark. The Sub-Fund may, for efficient portfolio management use financial derivative asset allocation which is based on long-term risk and return expectations instruments ("FDI"). across asset classes and designed to meet its growth risk profile, and through The Investment Manager will only invest in Underlying Funds which integrate the selection of Underlying Funds which are managed by the Investment financially material ESG issues as part of the investment process ("ESG Manager or other members of JPMorgan Chase & Co. Integration"). ESG Integration is the systematic inclusion of ESG issues in In addition to ESG Integration, as an SFDR Article 8 fund, through its investment analysis and investment decisions with the goals of managing risk investments in Underlying Funds the Sub-Fund promotes environmental and/ and improving long-term returns. ESG Integration by itself focuses on financial or social characteristics. materiality and is therefore only part of a broader investment process. It is only Through its investment in the Underlying Funds, at least 51% of the Sub-Fund's Net Asset Value will be exposed to securities which are aligned with the one of the factors, alongside the other factors which are described above in the "Investment Policy" section, to be considered in portfolio construction. EUR is environmental and/or social characteristics that the Sub-Fund promotes and the base currency of the Sub-Fund. that follow good governance practices, as measured through the proprietary

Redemption and Dealing:Shares of the Sub-Fund are traded on one or more ESG scoring methodology of the Investment Manager and the investment stock exchanges. Certain market makers and brokers may subscribe and manager of the Underlying Funds and/or third party data. Although the Subredeem Shares directly with JPMorgan ETFs (Ireland) ICAV, and are referred to Fund does not commit to directly investing a minimum proportion of as "Authorised Participants". Other investors who are not Authorised Sustainable Investments, it will be exposed indirectly to Sustainable Participants can purchase and sell Shares daily on a recognised stock Investments, as determined by the investment manager of the Underlying exchange or over-the-counter. Funds, as a result of the Underlying Funds' minimum commitments to Sustainable Investments. Benchmark: 80% MSCI ACWI Index (EUR), 20% Bloomberg Global Aggregate The Sub-Fund seeks to avoid exposure to certain industries and companies / Index Total Return (EUR Hedged).

Distribution Policy:This Share Class will not pay dividends. issuers, based on specific environmental, social and governance ("ESG") For an explanation of some of the terms used in this document, please visit the criteria and/or minimum standards of business practice based on glossary on our website at www.jpmorganassetmanagement.ie. international norms. The Investment Manager will consider values and norms

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 0.35%: above the median of multi-asset ETFs we track (0.27%).
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 document
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 Jan 2026 to Sept 2026
Compare with another ETF
Only funds we hold a history for. Three at a time, at most.
Return
+10.6%
Annualised
+17.8%
Volatility (ann.)
10.5%
Max drawdown
-6.10%
-7%-1%+4%+10%+15%Jan 2026Mar 2026May 2026Jul 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%)+11%Jan 2026Sept 2026
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%2026−6.10% · 27 Mar 2026
Max drawdown
-6.10%
peak → trough
Trough
27 Mar 2026
from the 25 Feb 2026 peak
Recovery time
21 days
recovery only: trough to break-even
Underwater
51 days
decline + recovery: peak to break-even · → recovered on 17 Apr 2026

The five worst falls in the period

From the peak ofTroughDepthBack to break-evenDays underwater
25 Feb 202627 Mar 2026-6.10%17 Apr 202651
06 Jul 202630 Jul 2026-2.87%04 Aug 202629
02 Jun 202610 Jun 2026-2.76%15 Jun 202613
13 Aug 202624 Aug 2026-2.24%ongoing21
14 May 202619 May 2026-1.77%22 May 20268
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

Full history
Volatility (ann.)10.37%
Max drawdown-6.10%
Sharpe1.36
Sortino2.15
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: 2.24%), 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.

Portfolio holdings

Securities in portfolio
11
12 total lines: 1 cash & derivatives
Top-10 weight
98.7%

Top 10 holdings

JPM GLOBAL REI EQ ACTIVE /EUR/ · JGIE
19.38%
JPM US REI EQ ACTIVE ETF /EUR/ · JUIE
19.35%
JPM GBL AGG BD A UCITS E /EUR/ · JAGE
16.29%
JPM GL EM MR EN IE AU ET /EUR/ · JEEM
10.08%
JPM US VALU EQ ACT UT E- /EUR/ · JPVA
9.29%
JPM US GRO EQT ACT UTS E /EUR/ · JPGR
8.53%
JPM EUROPE REI ACT UCITS /EUR/ · JREE
8.20%
JPM JAPAN REI EQ ACTIVE /EUR/ · JREJ
3.93%
JPM USD HY BOND UCITS ET /EUR/ · JPRY
2.00%
JPM AC APAC EX JPN REI A /EUR/ · JREA
1.69%

Countries

AfghanistanAngolaAlbaniaUnited Arab EmiratesArgentinaArmeniaFrench Southern and Antarctic LandsAustraliaAustriaAzerbaijanBurundiBelgiumBeninBurkina FasoBangladeshBulgariaThe BahamasBosnia and HerzegovinaBelarusBelizeBoliviaBrazilBruneiBhutanBotswanaCentral African RepublicCanadaSwitzerlandChileChinaIvory CoastCameroonDemocratic Republic of the CongoRepublic of the CongoColombiaCosta RicaCubaCyprusCzech RepublicGermanyDjiboutiDenmarkDominican RepublicAlgeriaEcuadorEgyptEritreaSpainEstoniaEthiopiaFinlandFijiFalkland IslandsFranceGabonUnited KingdomGeorgiaGhanaGuineaGambiaGuinea BissauEquatorial GuineaGreeceGreenlandGuatemalaFrench GuianaGuyanaHondurasCroatiaHaitiHungaryIndonesiaIndiaIreland: 99.7%IranIraqIcelandIsraelItalyJamaicaJordanJapanKazakhstanKenyaKyrgyzstanCambodiaSouth KoreaKosovoKuwaitLaosLebanonLiberiaLibyaSri LankaLesothoLithuaniaLuxembourgLatviaMoroccoMoldovaMadagascarMexicoMacedoniaMaliMyanmarMontenegroMongoliaMozambiqueMauritaniaMalawiMalaysiaNamibiaNew CaledoniaNigerNigeriaNicaraguaNetherlandsNorwayNepalNew ZealandOmanPakistanPanamaPeruPhilippinesPapua New GuineaPolandPuerto RicoNorth KoreaPortugalParaguayQatarRomaniaRussiaRwandaWestern SaharaSaudi ArabiaSudanSouth SudanSenegalSolomon IslandsSierra LeoneEl SalvadorSomaliaRepublic of SerbiaSurinameSlovakiaSloveniaSwedenSwazilandSyriaChadTogoThailandTajikistanTurkmenistanEast TimorTrinidad and TobagoTunisiaTurkeyTaiwanUnited Republic of TanzaniaUgandaUkraineUruguayUnited States of AmericaUzbekistanVenezuelaVietnamVanuatuWest BankYemenSouth AfricaZambiaZimbabwe
up to 1%1–5%5–15%15–30%over 30%
Hover a country for its percentage.
Top 7 countries
Ireland99.7%
Eurozone0.3%
Download the full portfolio — Excel, 12 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 →

Other multi-asset ETFs in our registry

All multi-asset in the search →
FundTERIncomeFund size
Xtrackersactive
0.24%Acc.5 mln EUR
Xtrackersactive
0.24%Acc.4 mln EUR
Xtrackersactive
0.24%Acc.3 mln EUR
Xtrackersactive
0.24%Acc.2 mln EUR
VNGD80 · Vanguard · 2 classesactive
0.25%Dist. · Acc.1.3 mld EUR
VNGD60 · Vanguard · 2 classesactive
0.25%Dist. · Acc.1 mld EUR
VNGA40 · Vanguard · 2 classesactive
0.25%Acc. · Dist.281 mln EUR
VNGA20 · Vanguard · 2 classesactive
0.25%Acc. · Dist.116 mln EUR
MODR · iShares · 3 classesactive
0.28%Acc.47 mln EUR
MAGR · iShares · 3 classesactive
0.29%Acc.108 mln EUR
MACV · iShares · 3 classesactive
0.29%Acc.16 mln EUR
JMAM · JPMorganactive
0.35%Acc.7 mln EUR
JMAC · JPMorganactive
0.35%Acc.6 mln EUR
Xtrackersactive
0.65%Dist.59 mln EUR
Xtrackersactive
0.70%Acc.765 mln EUR
LC39 · Amundinot on Borsa Italiana
0.18%Acc.6 mln EUR
17 multi-asset ETFs in our registry (including this fund): balanced products mixing several asset classes, each with its own strategy and weights — they do not share an index. Sorted by TER. A dash “—” = not declared by the issuer in the files we read — it is not a zero.

Italian taxation

Effective rate on capital gains
26.00%
White-list share
0.00%
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)JMAG28 Jan 2026
Börse DüsseldorfJMAG28 Jan 2026
Börse FrankfurtJMAG28 Jan 2026
Börse HamburgJMAG16 Feb 2026
Börse HannoverJMAG13 Feb 2026
Börse München / gettexJMAG28 Jan 2026
Börse StuttgartJMAG23 Mar 2026
Tradegate ExchangeJMAG6 Feb 2026
Xetra (Deutsche Börse)JMAG28 Jan 2026
+ 8 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

How much does JMAG cost?
The issuer-declared TER is 0.35% per year; the transaction costs estimated in the KID are 0.07%.
How is JMAG taxed in Italy?
On sale, the capital gain is taxed at an effective 26.00% rate (white-list share 0.00%): 12.5% on the government-bond “white list” portion, 26% on the rest.
What is the fund size of JMAG?
The fund size declared by JPMorgan is about 6 million euro.
When was JMAG launched?
The fund was launched on 21 January 2026: it has been trading for 226 days: the page fills up as the issuer publishes data.
Is JMAG actively or passively managed?
It is an ACTIVELY managed ETF: the manager picks the holdings, it does not replicate an index.
Does JMAG pay dividends?
No: it is an accumulating share class — income stays in the fund and is reinvested automatically (issuer wording: “Accumulation”).
Where does JMAG trade?
Per the official ESMA register it trades on 9 main exchanges, including Borsa Italiana (ETFplus) (JMAG), Börse Düsseldorf (JMAG), Börse Frankfurt (JMAG), Börse Hamburg (JMAG), Börse Hannover (JMAG), Börse München / gettex (JMAG).
What was JMAG's worst fall?
Over the available history (since 2026), the maximum drawdown was -6.10%, reached in March 2026. Past performance is not indicative of future results.
How many securities does JMAG hold?
The declared portfolio holds 11 securities (plus 1 cash & derivative lines); the top 10 positions weigh 98.7%.
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.