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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 →

India Research Enhanced Index Equity Active UCITS ETFIndex, costs, backtest, listings and taxation

ISIN: IE000ZAJ6XQ2Ticker: JRIN (Borsa Italiana) · JRIN (Xetra) · JRIN (London SE) · JRIN (SIX)Issuer: JPMorganClass: JPM - USD (acc)
Issuer-declared data
Declared index
MN40INU
TER
0.40%
Transaction costs
0.27% (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
99.5 mln EUR
Domicile
Ireland
Inception date
29 July 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

India Research Enhanced Index Equity Active UCITS ETF is an actively managed ETF: it does not track an index — the declared index (MN40INU) is a comparison yardstick only. The declared annual cost (TER) is 0.40%, plus 0.27% in transaction costs estimated by the issuer in the KID. Income is accumulated and reinvested in the fund. The fund has assets of about 100 million euro, was launched on 29 July 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 Indian companies.

Keep reading the KID section ▾

Investment Policy:The Sub-Fund aims to invest at least 67% of its assets (excluding assets held for ancillary liquidity purposes) in equity securities of companies (including smaller capitalisation companies) that are domiciled in, or carrying out the main part of their economic activity in, India. The Sub-Fund systematically includes ESG analysis in its investment decisions on at least 90% of securities purchased. Pursuant to the Investment Manager's ESG analysis, at least 51% of the Sub-Fund's Net Asset Value is invested in companies 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 also invests at least 20% of the Sub-Fund's 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 companies 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 a company'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 large and mid-capitalisation stocks of the Indian equity market ("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 bear a close resemblance to its 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 0.40%: above the median of equity ETFs we track (0.22%).
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 Jul 2025 to Sept 2026
Compare with another ETF
Only funds we hold a history for. Three at a time, at most.
Return
-8.8%
Annualised
-8.1%
Volatility (ann.)
15.8%
Max drawdown
-18.91%
-20%-14%-8%-1%+5%Jul 2025Nov 2025Feb 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%)-9%Jul 2025Sept 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%-5%-10%-15%-20%20252026−18.91% · 30 Mar 2026
Max drawdown
-18.91%
peak → trough
Trough
30 Mar 2026
from the 29 Oct 2025 peak
Recovery time
not yet
recovery only: trough to break-even
Underwater
309 days
decline + recovery: peak to break-even · ≈ 10 months · (ongoing)

The five worst falls in the period

From the peak ofTroughDepthBack to break-evenDays underwater
29 Oct 202530 Mar 2026-18.91%ongoing309
20 Aug 202529 Aug 2025-4.06%17 Sept 202528
17 Sept 202526 Sept 2025-3.90%16 Oct 202529
29 Jul 202508 Aug 2025-3.53%19 Aug 202521
23 Oct 202528 Oct 2025-0.36%29 Oct 20256

Calendar-year returns

2025
0.6%
2026
-9.3%

Month-by-month returns

JanFebMarAprMayJunJulAugSeptOctNovDecYear
2026-4.81.2-14.78.6-0.71.41.5-0.2-0.3-9.3
2025-2.30.63.20.5-0.00.6
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.)15.24%
Max drawdown-18.54%
Sharpe-0.52
Sortino-0.71
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.

Portfolio holdings

Securities in portfolio
146
147 total lines: 1 cash & derivatives
Top-10 weight
36.7%

Top 10 holdings

RELIANCE INDUSTRIES LIMI /INR/ · RIL
6.16%
ICICI BANK LTD /INR/ · ICICIBC
6.14%
HDFC BANK LIMITED /INR/ · HDFCB
6.08%
BHARTI AIRTEL LTD /INR/ · BHARTI
4.34%
INFOSYS LTD /INR/ /NSDL/ · INFO
2.79%
AXIS BANK LTD /INR/ · AXSB
2.55%
MAHINDRA & MAHINDRA LTD /INR/ · MM
2.51%
BAJAJ FINANCE LTD /INR/ · BAF
2.46%
KOTAK MAHINDRA BANK LTD /INR/ · KMB
2.05%
BHARAT ELECTRONICS LTD /INR/ · BHE
1.65%

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 GuianaGuyanaHondurasCroatiaHaitiHungaryIndonesiaIndia: 99.6%IrelandIranIraqIcelandIsraelItalyJamaicaJordanJapanKazakhstanKenyaKyrgyzstanCambodiaSouth KoreaKosovoKuwaitLaosLebanonLiberiaLibyaSri LankaLesothoLithuaniaLuxembourgLatviaMoroccoMoldovaMadagascarMexicoMacedoniaMaliMyanmarMontenegroMongoliaMozambiqueMauritaniaMalawiMalaysiaNamibiaNew CaledoniaNigerNigeriaNicaraguaNetherlandsNorwayNepalNew ZealandOmanPakistanPanamaPeruPhilippinesPapua New GuineaPolandPuerto RicoNorth KoreaPortugalParaguayQatarRomaniaRussiaRwandaWestern SaharaSaudi ArabiaSudanSouth SudanSenegalSolomon IslandsSierra LeoneEl SalvadorSomaliaRepublic of SerbiaSurinameSlovakiaSloveniaSwedenSwazilandSyriaChadTogoThailandTajikistanTurkmenistanEast TimorTrinidad and TobagoTunisiaTurkeyTaiwanUnited Republic of TanzaniaUgandaUkraineUruguayUnited States of America: 0.3%UzbekistanVenezuelaVietnamVanuatuWest BankYemenSouth AfricaZambiaZimbabwe
up to 1%1–5%5–15%15–30%over 30%
Hover a country for its percentage.
Top 7 countries
India99.6%
United States0.3%
Download the full portfolio — Excel, 147 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 →

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)JRIN5 Aug 2025
Börse DüsseldorfJRIN6 Aug 2025
Börse FrankfurtJRIN5 Aug 2025
Börse HamburgJRIN2 Dec 2025
Börse HannoverJRIN13 Nov 2025
Börse München / gettexJRIN5 Aug 2025
Börse StuttgartJRIN7 Aug 2025
Tradegate ExchangeJRIN14 Aug 2025
Xetra (Deutsche Börse)JRIN5 Aug 2025
+ 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

Which index does India Research Enhanced Index Equity Active UCITS ETF track?
The issuer JPMorgan declares the benchmark: MN40INU.
How much does JRIN cost?
The issuer-declared TER is 0.40% per year; the transaction costs estimated in the KID are 0.27%.
How is JRIN 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 JRIN?
The fund size declared by JPMorgan is about 100 million euro.
When was JRIN launched?
The fund was launched on 29 July 2025: it has 1 year of history.
Is JRIN actively or passively managed?
It is an ACTIVELY managed ETF: the manager picks the holdings, it does not replicate an index. The declared benchmark (MN40INU) is a yardstick for comparison, not an index being tracked.
Does JRIN pay dividends?
No: it is an accumulating share class — income stays in the fund and is reinvested automatically (issuer wording: “Accumulation”).
Where does JRIN trade?
Per the official ESMA register it trades on 9 main exchanges, including Borsa Italiana (ETFplus) (JRIN), Börse Düsseldorf (JRIN), Börse Frankfurt (JRIN), Börse Hamburg (JRIN), Börse Hannover (JRIN), Börse München / gettex (JRIN).
What was JRIN's worst fall?
Over the available history (since 2025), the maximum drawdown was -18.91%, reached in March 2026. Past performance is not indicative of future results.
How many securities does JRIN hold?
The declared portfolio holds 146 securities (plus 1 cash & derivative lines); the top 10 positions weigh 36.7%.
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.