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Actively managed: it does not track an index — the declared benchmark is a yardstick for comparison
🇮🇹 Effective capital-gains rate: 25.92%details →

USD IG Corporate Bond Active UCITS ETFIndex, costs, backtest, listings and taxation

ISIN: IE00BF59RV63Ticker: JRUB (Borsa Italiana) · JRUB (Xetra) · JRUB (London SE) · JRUB (SIX)Issuer: JPMorgan
Issuer-declared data
Declared index
LUACTRUU
TER
0.04%
Transaction costs
0.15% (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
75.6 mln EUR
Domicile
Ireland
Inception date
6 December 2018
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

USD IG Corporate Bond Active UCITS ETF is an actively managed ETF: it does not track an index — the declared index (LUACTRUU) is a comparison yardstick only. The declared annual cost (TER) is 0.04%, plus 0.15% in transaction costs estimated by the issuer in the KID. Income is accumulated and reinvested in the fund. The fund has assets of about 76 million euro, was launched on 6 December 2018 and is domiciled in Ireland.

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

Investment Objective: The Sub-Fund aims to achieve a long-term return in excess of Bloomberg US Corporate Bond Index (the "Benchmark") by actively investing primarily in a portfolio of investment grade US Dollar denominated corporate 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 USDdenominated corporate debt securities. Issuers of these securities may be located in any country, including emerging markets. However, the majority of the Sub-Fund's assets will be invested in securities issued by companies that are domiciled in, or carrying out the main part of their activity, in the US. The Sub-Fund may also invest in contingent convertible bonds (subject to a maximum of 5% of its Net Asset Value). The Sub-Fund systematically includes environmental, social and governance ("ESG") analysis in its investment decisions on at least 90% of 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 Investment Manager will seek to outperform the Benchmark over the long-term. The Benchmark consists of investment grade, fixed rate debt securities of varying maturity, issued by issuers globally ("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 0.04%: below 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 Dec 2018 to Sept 2026
Compare with another ETF
Only funds we hold a history for. Three at a time, at most.
Return
+24.9%
Annualised
+2.9%
Volatility (ann.)
6.6%
Max drawdown
-22.26%
-4%+5%+14%+22%+31%Dec 2018Nov 2020Oct 2022Sept 2024Sept 2026The break-even line: the value at the start of the period. Above it you are in gain, below in loss.break-even (0%)+25%Dec 2018Sept 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%-25%-30%20182020202220242026−22.26% · 21 Oct 2022
Max drawdown
-22.26%
peak → trough
Trough
21 Oct 2022
from the 31 Dec 2020 peak
Recovery time
1,211 days
recovery only: trough to break-even · ≈ 3 years and 4 months
Underwater
1,870 days
decline + recovery: peak to break-even · ≈ 5 years and 1 month · → recovered on 13 Feb 2026

The five worst falls in the period

From the peak ofTroughDepthBack to break-evenDays underwater
31 Dec 202021 Oct 2022-22.26%13 Feb 20261,870
06 Mar 202020 Mar 2020-16.32%01 Jul 2020117
28 Feb 202627 Mar 2026-2.94%ongoing187
06 Aug 202005 Oct 2020-2.69%30 Nov 2020116
28 Aug 201913 Sept 2019-2.68%26 Nov 201990

Calendar-year returns

2018
0.9%
2019
14.8%
2020
9.7%
2021
-1.8%
2022
-16.0%
2023
8.6%
2024
2.1%
2025
7.8%
2026
-0.4%

Month-by-month returns

JanFebMarAprMayJunJulAugSeptOctNovDecYear
20260.31.4-2.00.50.70.3-1.70.5-0.2-0.4
20250.52.0-0.3-0.00.01.90.20.91.60.40.7-0.37.8
2024-0.0-1.61.3-2.51.90.62.41.61.8-2.50.9-1.42.1
20234.3-3.43.00.7-1.40.50.2-0.8-2.7-1.96.14.28.6
2022-3.4-2.0-2.4-5.71.1-2.93.4-3.1-5.3-0.85.1-0.8-16.0
2021-1.6-1.9-1.71.00.71.71.3-0.3-1.10.2-0.0-0.0-1.8
20202.21.3-6.35.31.41.83.0-1.6-0.4-0.22.80.49.7
20192.70.12.50.61.42.60.53.1-0.60.60.20.314.8
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 yearsLast 5 yearsFull history
Volatility (ann.)6.47%8.03%9.64%9.17%
Max drawdown-4.73%-11.15%-13.01%-13.59%
Sharpe0.02-0.04-0.180.15
Sortino0.03-0.05-0.250.20
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
6.62years

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
0.02%
AA
5.01%
A
32.47%
BBB
56.26%
< BBB
1.13%
Cash and derivatives
5.11%

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
402
403 total lines: 1 cash & derivatives
Top-10 weight
9.2%

Top 10 holdings

SOUTHERN CO GAS 5.15% 09/15/32 · SO
1.17%
HSBC HOLDINGS PLC V/R 05/13/31 · HSBC
1.02%
BANK OF AMERICA C V/R 02/13/31 · BAC
0.96%
CHENIERE ENERGY 4.5% 10/01/29 · CQP
0.95%
BANK OF AMERICA C V/R 04/22/32 · BAC
0.94%
US TREAS NTS 4.375% 07/31/31 · T
0.93%
CITIGROUP INC V/R 03/20/30 · C
0.85%
AVOLON HOLDINGS 4.9% 10/10/30 · AVOL
0.85%
CITIGROUP INC V/R 05/07/31 · C
0.77%
CIGNA GROUP/TH 2.375% 03/15/31 · CI
0.73%

Countries

AfghanistanAngolaAlbaniaUnited Arab EmiratesArgentinaArmeniaFrench Southern and Antarctic LandsAustralia: 0.4%AustriaAzerbaijanBurundiBelgium: 0.2%BeninBurkina FasoBangladeshBulgariaThe BahamasBosnia and HerzegovinaBelarusBelizeBoliviaBrazilBruneiBhutanBotswanaCentral African RepublicCanada: 1.2%Switzerland: 0.5%Chile: 0.2%ChinaIvory CoastCameroonDemocratic Republic of the CongoRepublic of the CongoColombiaCosta RicaCubaCyprusCzech RepublicGermany: 0.5%DjiboutiDenmark: 0.5%Dominican RepublicAlgeriaEcuadorEgyptEritreaSpain: 1.9%EstoniaEthiopiaFinlandFijiFalkland IslandsFrance: 2.4%GabonUnited KingdomGeorgiaGhanaGuineaGambiaGuinea BissauEquatorial GuineaGreeceGreenlandGuatemalaFrench GuianaGuyanaHondurasCroatiaHaitiHungaryIndonesiaIndiaIreland: 0.6%IranIraqIcelandIsraelItaly: 1.8%JamaicaJordanJapan: 1.3%KazakhstanKenyaKyrgyzstanCambodiaSouth KoreaKosovoKuwaitLaosLebanonLiberiaLibyaSri LankaLesothoLithuaniaLuxembourgLatviaMoroccoMoldovaMadagascarMexico: 0.5%MacedoniaMaliMyanmarMontenegroMongoliaMozambiqueMauritaniaMalawiMalaysiaNamibiaNew CaledoniaNigerNigeriaNicaraguaNetherlands: 0.6%Norway: 0.5%NepalNew ZealandOmanPakistanPanamaPeruPhilippinesPapua New GuineaPolandPuerto RicoNorth KoreaPortugalParaguayQatarRomaniaRussiaRwandaWestern SaharaSaudi ArabiaSudanSouth SudanSenegalSolomon IslandsSierra LeoneEl SalvadorSomaliaRepublic of SerbiaSurinameSlovakiaSloveniaSwedenSwazilandSyriaChadTogoThailandTajikistanTurkmenistanEast TimorTrinidad and TobagoTunisiaTurkeyTaiwanUnited Republic of TanzaniaUgandaUkraineUruguayUnited States of America: 78%UzbekistanVenezuelaVietnamVanuatuWest BankYemenSouth AfricaZambiaZimbabwe
up to 1%1–5%5–15%15–30%over 30%
Hover a country for its percentage.
Top 7 countries
United States78%
United Kingdom6.7%
France2.4%
Spain1.9%
Italy1.8%
Cayman Islands1.6%
Japan1.3%
⬇ Download the full portfolio — Excel, 403 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 IE00BF59RV63 (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 - EUR Hedged (acc)IE0000J0F3C5JRUEAccumulatingEUR
JPM - USD (acc) · this pageIE00BF59RV63JRUBAccumulatingUSD
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
25.92%
White-list share
0.62%
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:

IE0000J0F3C5JRUE(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)JRUB13 Dec 2018
Börse DüsseldorfJRUB4 Apr 2019
Börse FrankfurtJRUB13 Dec 2018
Börse HamburgJRUB13 Feb 2019
Börse HannoverJRUB9 Dec 2024
Börse München / gettexJRUB20 Feb 2019
Börse StuttgartJRUB13 Feb 2019
Tradegate ExchangeJRUB31 Oct 2019
Xetra (Deutsche Börse)JRUB13 Dec 2018
+ 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 USD IG Corporate Bond Active UCITS ETF track?
The issuer JPMorgan declares the benchmark: LUACTRUU.
How much does JRUB cost?
The issuer-declared TER is 0.04% per year; the transaction costs estimated in the KID are 0.15%.
How is JRUB taxed in Italy?
On sale, the capital gain is taxed at an effective 25.92% rate (white-list share 0.62%): 12.5% on the government-bond “white list” portion, 26% on the rest.
What is the fund size of JRUB?
The fund size declared by JPMorgan is about 76 million euro.
When was JRUB launched?
The fund was launched on 6 December 2018: it has 7 years of history.
Is JRUB actively or passively managed?
It is an ACTIVELY managed ETF: the manager picks the holdings, it does not replicate an index. The declared benchmark (LUACTRUU) is a yardstick for comparison, not an index being tracked.
Does JRUB pay dividends?
No: it is an accumulating share class — income stays in the fund and is reinvested automatically (issuer wording: “Accumulation”).
Where does JRUB trade?
Per the official ESMA register it trades on 9 main exchanges, including Borsa Italiana (ETFplus) (JRUB), Börse Düsseldorf (JRUB), Börse Frankfurt (JRUB), Börse Hamburg (JRUB), Börse Hannover (JRUB), Börse München / gettex (JRUB).
What was JRUB's worst fall?
Over the available history (since 2018), the maximum drawdown was -22.26%, reached in October 2022. Past performance is not indicative of future results.
How many securities does JRUB hold?
The declared portfolio holds 402 securities (plus 1 cash & derivative lines); the top 10 positions weigh 9.2%.
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.