Article 6 — does not promote specific ESG characteristics what does it mean?
Fund assets
82.8 mln EUR
Domicile
Ireland
Inception date
3 April 2019
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
BetaBuilders US Equity UCITS ETF tracks the issuer-declared index: MSUTMENU. The declared annual cost (TER) is 0.04%, plus 0.00% in transaction costs estimated by the issuer in the KID. Income is distributed to investors. The fund has assets of about 83 million euro, was launched on 3 April 2019 and is domiciled in Ireland.
The fund’s objective — in the issuer’s words
Investment Objective: The Sub-Fund seeks to provide returns that correspond with those of the Index by investing primarily in US stocks. The Sub-Fund may, for efficient portfolio management purposes, use financial derivative instruments.
Keep reading the KID section ▾
Investment Policy:The Sub-Fund pursues a passively managed (index tracking) strategy. USD is the base currency of the Sub-Fund. The Sub-Fund aims to track the performance of the Index as closely as possible, regardless of whether the Index level rises or falls, while seeking to minimise as far as possible the tracking error between the Sub-Fund's performance and that of the Index. The Index is comprised primarily of large and mid-capitalisation stocks issued by companies in the US. Companies in the Index mainly operate within the information technology, health care, financial services and consumer sectors. The Investment Manager will aim to replicate the Index by holding all of the Index Securities in a similar proportion to their weighting in the Index. However, where full replication of the Index is not reasonably possible, the Sub-Fund will use the optimisation methodology to select Index Securities in order to build a representative portfolio that provides a return that is comparable to that of the Index. Consequently, the SubFund may over certain periods only hold a certain sub-set of the Index Securities. The Sub-Fund may hold securities that are not constituents of the Index where such securities provide similar exposure by industry and company characteristics to the relevant Index Securities. It is currently anticipated that the tracking error of the Sub-Fund will be up to 100 bps under normal market conditions. The causes of tracking error can include but are not limited to the following: holdings/size of the Sub-Fund, cash flows, such as any delays in investing subscription proceeds into the Sub-Fund or realising investments to meet redemptions, fees and the frequency of rebalancing against the Index The Sub-Fund will publicly disclose its complete holdings on a daily basis. Details of the Sub-Fund's holdings and full disclosure policy may be found on www. jpmorganassetmanagement.ie.
Redemption and Dealing:Shares of the Sub-Fund are traded on one or more stock exchanges. Certain market makers and brokers may subscribe and redeem Shares directly with JPMorgan ETFs (Ireland) ICAV, and are referred to as "Authorised Participants". Other investors who are not Authorised Participants can purchase and sell Shares daily on a recognised stock exchange or over-the-counter. Index: Morningstar® US Target Market Exposure ™ Index.
Distribution Policy:This Share Class will normally pay dividends quarterly. For an explanation of some of the terms used in this document, please visit the glossary on our website at www.jpmorganassetmanagement.ie.
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 Apr 2019 to Sept 2026
Compare with another ETF
Only funds we hold a history for. Three at a time, at most.
Return
+194.3%
Annualised
+15.7%
Volatility (ann.)
19.8%
Max drawdown
-34.14%
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.
Max drawdown
-34.14%
peak → trough
Trough
23 Mar 2020
from the 19 Feb 2020 peak
Recovery time
136 days
recovery only: trough to break-even · ≈ 4 months
Underwater
169 days
decline + recovery: peak to break-even · ≈ 6 months · → recovered on 06 Aug 2020
The five worst falls in the period
From the peak of
Trough
Depth
Back to break-even
Days underwater
19 Feb 2020
23 Mar 2020
-34.14%
06 Aug 2020
169
27 Dec 2021
12 Oct 2022
-25.57%
14 Dec 2023
717
19 Feb 2025
08 Apr 2025
-19.07%
26 Jun 2025
127
02 Sept 2020
23 Sept 2020
-9.54%
11 Nov 2020
70
12 Jan 2026
30 Mar 2026
-9.18%
15 Apr 2026
93
Calendar-year returns
2019
13.7%
2020
20.4%
2021
26.7%
2022
-19.6%
2023
26.9%
2024
24.6%
2025
17.5%
2026
13.6%
Month-by-month returns
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sept
Oct
Nov
Dec
Year
2026
1.2
-1.0
-4.9
10.5
5.3
-1.0
-0.1
2.8
0.8
13.6
2025
3.0
-1.6
-5.8
-0.5
6.4
5.1
2.3
1.9
3.6
2.3
0.1
-0.0
17.5
2024
1.6
5.3
3.1
-4.1
4.8
3.6
1.2
2.4
2.1
-0.8
5.5
-2.0
24.6
2023
6.5
-2.4
3.5
1.3
0.7
6.6
3.4
-1.7
-4.7
-2.3
9.4
4.7
26.9
2022
-5.6
-2.9
3.5
-9.0
-0.2
-8.3
9.2
-3.9
-9.3
7.9
5.5
-5.9
-19.6
2021
-0.9
2.7
3.9
5.4
0.5
2.6
2.3
2.9
-4.8
6.9
-1.1
4.1
26.7
2020
0.2
-8.2
-12.7
13.0
5.1
2.2
5.8
7.5
-3.9
-2.6
11.5
4.0
20.4
2019
-6.4
7.0
1.5
-1.8
1.8
2.1
3.7
2.9
13.7
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.
Issuer-declared series with dividends reinvested: the total performance, comparable with accumulating funds. Switch it off to see the price (NAV) alone, which drops at every dividend payment.
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
Last 3 years
Last 5 years
Full history
Volatility (ann.)
12.65%
15.82%
18.01%
20.37%
Max drawdown
-8.00%
-22.88%
-22.88%
-34.03%
Sharpe
1.28
0.83
0.53
0.64
Sortino
1.87
1.19
0.76
0.89
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.
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.
Per-share dividends as declared by the issuer, in USD, since the first payment (11 Jul 2019). Past dividends are not indicative of future ones.
Share classes of the same fund
This page covers ISIN IE00BJK9H860 (share class JPM - USD (dist)). The other classes belong to the same fund but may differ in currency, income policy or currency hedging.
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
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.
+ 6 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 BetaBuilders US Equity UCITS ETF track?
The issuer JPMorgan declares the benchmark: MSUTMENU.
How much does BBUD cost?
The issuer-declared TER is 0.04% per year; the transaction costs estimated in the KID are 0.00%.
How is BBUD 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 BBUD?
The fund size declared by JPMorgan is about 83 million euro.
When was BBUD launched?
The fund was launched on 3 April 2019: it has 7 years of history.
How does BBUD replicate its index?
It is a passively managed ETF: it follows the declared index. Physical (full replication) (declared in the KID objectives).
Does BBUD pay dividends?
Yes: it is a distributing share class — income is paid out periodically (issuer wording: “Distribution”).
Where does BBUD trade?
Per the official ESMA register it trades on 4 main exchanges, including Börse Düsseldorf (BBUD), Börse Hamburg (BBUD), Börse Hannover (BBUD), Tradegate Exchange (BBUD).
What was BBUD's worst fall?
Over the available history (since 2019), the maximum drawdown was -34.14%, reached in March 2020. Past performance is not indicative of future results.
How many securities does BBUD hold?
The declared portfolio holds 468 securities (plus 1 cash & derivative lines); the top 10 positions weigh 37.5%.
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.