Article 6 — does not promote specific ESG characteristics what does it mean?
Fund assets
57.7 mln EUR
NAV
13.14 USD
Domicile
Luxembourg
Inception date
5 September 2018
Data as declared by UBS in the issuer’s official files and endpoints · collected on 2 September 2026 (monthly refresh). Facts only, no recommendation.
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Description
UBS J.P. Morgan EM Multi-Factor Enhanced Local Currency Bond UCITS ETF USD dis tracks the issuer-declared index: J.P. Morgan Emerging Market Enhanced Multi-Factor Local Currency Bond Index. The declared annual cost (TER) is 0.40%, plus 0.00% in transaction costs estimated by the issuer in the KID. Replication is physical replication: optimised for equities, sampled for bonds. The fund has assets of about 58 million euro, was launched on 5 September 2018 and is domiciled in Luxembourg.
The fund’s objective — in the issuer’s words
The Fund is passively managed and will take proportionate exposure on the components of the J.P. Morgan Emerging Market Enhanced MultiFactor Local Currency Bond Index using a stratified approach (stratified sampling strategy) by investing in a representative sample of components of the index selected by the portfolio manager using a 'portfolio optimisation' technique. The proportionate exposure by the Fund to the component securities will be substantially achieved either through direct investment or through the use of derivatives or through a combination of both techniques. The Fund may further hold securities which are not comprised in its Index if the portfolio manager believes this to be appropriate considering the Fund's investment objective and the investment restrictions or other factors. The Fund will invest its net assets predominantly in bonds, transferable securities, money market instruments, units of undertakings for collective investment, deposits with credit institutions, structured notes listed or dealt in on a regulated market and other assets eligible under the prospectus. The Fund will not enter into any securities lending. Sustainability risks are not systematically integrated as they are not considered as part of the Index selection process. The return of the fund depends mainly on the performance of the tracked index. This class distributes its net income in order to maintain the maximum tracking accuracy of the J.P. Morgan Emerging Market Enhanced MultiFactor Local Currency Bond Index (Total Return).
Keep reading the KID section ▾
Intended retail investorThis fund applies to retail investors with a basic financial understanding, who can accept a possible loss on the investment amount. The fund is aimed at generating a substantial part of its yield through recurring income, while granting daily access to the capital under normal market conditions. With their investment in this fund, investors can satisfy medium term investment needs. The fund is suited to be acquired by the target client segments without any restriction of the distribution channel or platform. Depositary State Street Bank International GmbH, Luxembourg Branch Further Information Information about UBS J.P. Morgan EM Multi-Factor Enhanced Local Currency Bond UCITS ETF and the available share classes, the full prospectus, and the latest annual and semi-annual reports, as well as additional information can be obtained free of charge from the fund management company, the central administrator, the custodian bank, the fund distributors or online at www.ubs.com/etf. Latest price can be found at www.ubs.com/etf
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 Sept 2018 to Sept 2026
Compare with another ETF
Only funds we hold a history for. Three at a time, at most.
Return
+37.0%
Annualised
+4.0%
Volatility (ann.)
9.0%
Max drawdown
-29.67%
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
-29.67%
peak → trough
Trough
24 Oct 2022
from the 04 Jan 2021 peak
Recovery time
981 days
recovery only: trough to break-even · ≈ 2 years and 8 months
Underwater
1,639 days
decline + recovery: peak to break-even · ≈ 4 years and 6 months · → recovered on 01 Jul 2025
The five worst falls in the period
From the peak of
Trough
Depth
Back to break-even
Days underwater
04 Jan 2021
24 Oct 2022
-29.67%
01 Jul 2025
1,639
10 Jan 2020
23 Mar 2020
-22.53%
04 Dec 2020
329
25 Feb 2026
30 Mar 2026
-6.23%
19 Aug 2026
175
19 Jul 2019
29 Aug 2019
-4.40%
28 Oct 2019
101
31 Jan 2019
07 May 2019
-3.43%
11 Jun 2019
131
Calendar-year returns
2018
6.3%
2019
13.4%
2020
2.0%
2021
-8.7%
2022
-14.0%
2023
15.5%
2024
-1.7%
2025
20.3%
2026
3.9%
Month-by-month returns
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sept
Oct
Nov
Dec
Year
2026
2.4
1.2
-5.8
2.9
1.0
0.6
0.3
0.9
0.7
3.9
2025
2.0
0.9
1.3
2.9
1.6
3.0
-0.7
2.4
1.5
0.7
1.5
1.6
20.3
2024
-1.5
-0.6
-0.0
-2.1
1.8
-1.0
2.5
3.0
3.5
-4.7
-0.5
-1.8
-1.7
2023
4.7
-3.0
4.1
1.0
-1.2
3.7
3.0
-2.8
-3.5
-0.5
5.4
4.2
15.5
2022
-0.2
-6.0
-1.0
-6.6
1.6
-5.1
0.2
0.0
-5.5
-1.1
7.6
2.0
-14.0
2021
-1.0
-2.7
-3.0
2.2
2.7
-1.4
-0.4
0.8
-3.4
-1.1
-2.7
1.4
-8.7
2020
-1.5
-3.6
-13.6
4.3
6.1
0.7
3.4
-0.2
-2.2
0.4
5.9
3.8
2.0
2019
5.9
-1.1
-1.5
-0.2
0.3
6.0
0.9
-3.3
1.0
2.8
-1.8
4.2
13.4
2018
-2.3
2.7
1.4
6.3
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: UBS. 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.
Tracking difference — fund vs index
How much the fund returned above (+) or below (−) its index, year by year. It measures the actual deviation: the combined effect of costs (TER and transaction), securities-lending revenue and replication optimisations — which is why it can beat the TER. Tracking difference was positive in 1 of the last 6 calendar years: a past observation, not an indication of future outperformance.
Average TD (last 3 years)
-0.18% /anno
Declared TER
0.40%
Year
Fund
Index
Difference
2025
+20.29%
+20.25%
+0.04%
2024
-1.71%
-1.40%
-0.31%
2023
+15.48%
+15.75%
-0.28%
2022
-14.03%
-13.97%
-0.07%
2021
-8.66%
-7.93%
-0.72%
2020
+2.02%
+2.42%
-0.40%
Fund return with dividends reinvested by Rebalix on each ex-date (the issuer does not publish a total-return series); index from the issuer-declared series; complete calendar years covered by our dividend archive. complete calendar years. TD is not comparable across sites using different methodologies or index variants. Past performance is not indicative of future results. What is tracking difference? →
Risk indicators· EUR
Last year
Last 3 years
Last 5 years
Full history
Volatility (ann.)
6.56%
7.25%
8.34%
9.10%
Max drawdown
-5.30%
-10.12%
-16.10%
-29.55%
Sharpe
0.23
-0.26
-0.47
-0.25
Sortino
0.29
-0.33
-0.60
-0.32
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: 2.21%), 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 · modified duration
5.49years
Price sensitivity to rates: the longer, the more the fund moves. What is duration →
Source: product page UBS, data as of 31 July 2026. Values as declared by the issuer, not computed by us; updated with the monthly document.
Portfolio holdings
Countries
up to 1%1–5%5–15%15–30%over 30%
Hover a country for its percentage.
Top 7 countries
Mexico11.5%
India11.2%
South Africa10.4%
Indonesia10.1%
China9.9%
Poland8.2%
Malaysia8%
Top 10 holdings and breakdowns as declared by UBS in the fund factsheet, data as of 31 July 2026. Percentages may not sum to 100 due to cash, derivatives and rounding.
+ 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 UBS J.P. Morgan EM Multi-Factor Enhanced Local Currency Bond UCITS ETF USD dis track?
The issuer UBS declares the benchmark: J.P. Morgan Emerging Market Enhanced Multi-Factor Local Currency Bond Index.
How much does UBS J.P. Morgan EM Multi-Factor Enhanced Local Currency Bond UCITS ETF USD dis cost?
The issuer-declared TER is 0.40% per year; the transaction costs estimated in the KID are 0.00%.
How is UBS J.P. Morgan EM Multi-Factor Enhanced Local Currency Bond UCITS ETF USD dis taxed in Italy?
On sale, the capital gain is taxed at an effective 14.13% rate (white-list share 87.96%): 12.5% on the government-bond “white list” portion, 26% on the rest.
What is the fund size of UBS J.P. Morgan EM Multi-Factor Enhanced Local Currency Bond UCITS ETF USD dis?
The fund size declared by UBS is about 58 million euro.
When was UBS J.P. Morgan EM Multi-Factor Enhanced Local Currency Bond UCITS ETF USD dis launched?
The fund was launched on 5 September 2018: it has 8 years of history.
How does UBS J.P. Morgan EM Multi-Factor Enhanced Local Currency Bond UCITS ETF USD dis replicate its index?
It is a passively managed ETF: it follows the declared index. Physical (mixed: optimised/sampled) (issuer wording: “Fisico + ottimizzato (azioni) / campione (obbligazioni)”).
Does UBS J.P. Morgan EM Multi-Factor Enhanced Local Currency Bond UCITS ETF USD dis pay dividends?
Yes: it is a distributing share class — income is paid out periodically (issuer wording: “Sì”).
Where does UBS J.P. Morgan EM Multi-Factor Enhanced Local Currency Bond UCITS ETF USD dis trade?
Per the official ESMA register it trades on 9 main exchanges, including Borsa Italiana (ETFplus) (EMLOC), Börse Düsseldorf (UEFE), Börse Frankfurt (UEFE), Börse Hamburg (UEFE), Börse Hannover (UEFE), Börse München / gettex (UEFE).
What was UBS J.P. Morgan EM Multi-Factor Enhanced Local Currency Bond UCITS ETF USD dis's worst fall?
Over the available history (since 2018), the maximum drawdown was -37.76%, reached in October 2022. Past performance is not indicative of future results.
What is UBS J.P. Morgan EM Multi-Factor Enhanced Local Currency Bond UCITS ETF USD dis's tracking difference?
Over the last 3 complete calendar years the fund returned on average -0.18% per year versus its index (from issuer-declared series).
Transparency note
The data in this sheet is declared by UBS 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.