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UBS J.P. Morgan Global Gov ESG Liquid Bond UCITS ETF USD accIndex, costs, backtest, listings and taxation

ISIN: LU1974693662Issuer: UBS
Issuer-declared data
TER
0.15%
Transaction costs
0.01% (issuer estimate, from the KID)
Management
Passive (index-tracking) (from the KID)
Income policy
SFDR
Article 8 — promotes environmental or social characteristics what does it mean?
Fund assets
103.1 mln EUR
NAV
9.6 USD
Domicile
Luxembourg
Inception date
1 October 2019
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 Global Gov ESG Liquid Bond UCITS ETF USD acc tracks the issuer-declared index: J.P. Morgan Global Government ESG Liquid Bond Index (Total Return). The declared annual cost (TER) is 0.15%, plus 0.01% 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 103 million euro, was launched on 1 October 2019 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 Global Government ESG Liquid Bond Index (Total Return) 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. This sub-fund promotes environmental and/or social characteristics but does not have a sustainable investment objective. The Fund will not enter into any securities lending. The return of the fund depends mainly on the performance of the tracked index. Fund income is not paid out, but instead will be reinvested.

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 and addresses a preference for Sustainable Investing, 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 Global Gov ESG Liquid 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

From the KID’s “Objectives” section · 5 August 2026 · original document ↓
Text generated from the data the issuer declares in official product lists. No recommendation.

Quick reads

  • Average tracking difference over the last 3 years: -0.15% p.a., against a declared TER of 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 Oct 2019 to Sept 2026
Compare with another ETF
Only funds we hold a history for. Three at a time, at most.
Return
-10.6%
Annualised
-1.6%
Volatility (ann.)
6.7%
Max drawdown
-28.27%
-24%-15%-6%+3%+12%Oct 2019Jul 2021Mar 2023Dec 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%)-11%Oct 2019Sept 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%2019202120232025−28.27% · 21 Oct 2022
Max drawdown
-28.27%
peak → trough
Trough
21 Oct 2022
from the 04 Jan 2021 peak
Recovery time
not yet
recovery only: trough to break-even
Underwater
2,069 days
decline + recovery: peak to break-even · ≈ 5 years and 8 months · (ongoing)

The five worst falls in the period

From the peak ofTroughDepthBack to break-evenDays underwater
04 Jan 202121 Oct 2022-28.27%ongoing2,069
09 Mar 202019 Mar 2020-8.39%05 Aug 2020149
04 Oct 201912 Nov 2019-2.46%31 Jan 2020119
06 Aug 202027 Aug 2020-1.57%05 Nov 202091
05 Nov 202011 Nov 2020-1.49%20 Nov 202015

Calendar-year returns

2019
-0.4%
2020
9.5%
2021
-6.8%
2022
-17.3%
2023
4.7%
2024
-4.4%
2025
7.7%
2026
-1.3%

Month-by-month returns

JanFebMarAprMayJunJulAugSeptOctNovDecYear
20261.11.0-3.71.30.0-1.1-0.50.30.3-1.3
20250.51.50.94.3-0.72.1-2.31.50.5-0.70.00.17.7
2024-1.9-1.60.5-3.01.2-0.23.22.61.8-4.10.3-3.1-4.4
20233.1-3.43.70.2-2.2-0.10.3-1.5-3.5-1.15.24.54.7
2022-2.1-0.9-3.5-5.70.0-3.42.0-4.3-5.0-0.44.90.1-17.3
2021-1.4-2.4-2.01.10.9-0.91.5-0.5-2.3-0.3-0.0-0.6-6.8
20201.61.1-0.11.1-0.10.53.3-0.6-0.1-0.21.41.29.5
2019-1.10.2-0.4
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: 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 0 of the last 6 calendar years: a past observation, not an indication of future outperformance.
Average TD (last 3 years)
-0.15% /anno
Declared TER
0.15%
YearFundIndexDifference
2025+7.70%+7.90%-0.20%
2024-4.45%-4.29%-0.16%
2023+4.70%+4.79%-0.09%
2022-17.31%-17.18%-0.13%
2021-6.82%-6.68%-0.14%
2020+9.53%+9.73%-0.20%
Total-return figures from issuer-declared series (primary source); 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 yearLast 3 yearsLast 5 yearsFull history
Volatility (ann.)4.89%6.31%8.00%7.59%
Max drawdown-3.27%-7.78%-17.06%-20.67%
Sharpe-0.60-0.47-0.62-0.53
Sortino-0.80-0.65-0.88-0.75
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 · modified duration
6.54years

Price sensitivity to rates: the longer, the more the fund moves. What is duration →

Source: factsheet UBS, data as of 31 July 2026. Values as declared by the issuer, not computed by us; updated with the monthly document.

Portfolio holdings

Securities in portfolio
1,443
Top-10 weight
2.7%

Top 10 holdings

T 4 5/8 02/15/35
0.28%
T 4 1/4 11/15/34
0.27%
US TREASURY N/B s c-2035 4.25%/25-150535
0.27%
T 4 1/4 08/15/35
0.27%
T 1 5/8 05/15/31
0.27%
T 4 1/8 02/15/36
0.27%
T 4 11/15/35
0.26%
T 4 3/8 05/15/34
0.26%
UKT 4 3/4 12/07/30
0.26%
T 4 3/8 05/15/36
0.26%

Countries

AfghanistanAngolaAlbaniaUnited Arab EmiratesArgentinaArmeniaFrench Southern and Antarctic LandsAustralia: 2.1%AustriaAzerbaijanBurundiBelgiumBeninBurkina FasoBangladeshBulgariaThe BahamasBosnia and HerzegovinaBelarusBelizeBoliviaBrazilBruneiBhutanBotswanaCentral African RepublicCanada: 3%SwitzerlandChileChinaIvory CoastCameroonDemocratic Republic of the CongoRepublic of the CongoColombiaCosta RicaCubaCyprusCzech RepublicGermany: 7.2%DjiboutiDenmarkDominican RepublicAlgeriaEcuadorEgyptEritreaSpain: 3.6%EstoniaEthiopiaFinlandFijiFalkland IslandsFrance: 9.1%GabonUnited Kingdom: 8.8%GeorgiaGhanaGuineaGambiaGuinea BissauEquatorial GuineaGreeceGreenlandGuatemalaFrench GuianaGuyanaHondurasCroatiaHaitiHungaryIndonesiaIndiaIrelandIranIraqIcelandIsraelItaly: 5.4%JamaicaJordanJapan: 12.8%KazakhstanKenyaKyrgyzstanCambodiaSouth 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: 35.7%UzbekistanVenezuelaVietnamVanuatuWest BankYemenSouth AfricaZambiaZimbabwe
up to 1%1–5%5–15%15–30%over 30%
Hover a country for its percentage.
Top 7 countries
United States35.7%
Japan12.8%
France9.1%
United Kingdom8.8%
Germany7.2%
Italy5.4%
Spain3.6%
Download the full portfolio — Excel, 1,443 rows
Full portfolio declared by UBS, as of 19 August 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 →

Index tracked

J.P. Morgan Global Government ESG Liquid Bond Index (Total Return)
This fund belongs to the government bonds family: compare all census ETFs in this family →

Italian taxation

Effective rate on capital gains
12.88%
White-list share
97.20%
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)EGO11 Oct 2019
Börse DüsseldorfUIQG23 Nov 2021
Börse FrankfurtUIQG4 Oct 2019
Börse HamburgUIQG19 Feb 2020
Börse HannoverUIQG9 Dec 2024
Börse München / gettexUIQG29 Sept 2021
Börse StuttgartUIQG22 Jan 2020
Tradegate ExchangeUIQG17 Aug 2020
Xetra (Deutsche Börse)UIQG4 Oct 2019
+ 13 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 Global Gov ESG Liquid Bond UCITS ETF USD acc track?
The issuer UBS declares the benchmark: J.P. Morgan Global Government ESG Liquid Bond Index (Total Return).
How much does UBS J.P. Morgan Global Gov ESG Liquid Bond UCITS ETF USD acc cost?
The issuer-declared TER is 0.15% per year; the transaction costs estimated in the KID are 0.01%.
How is UBS J.P. Morgan Global Gov ESG Liquid Bond UCITS ETF USD acc taxed in Italy?
On sale, the capital gain is taxed at an effective 12.88% rate (white-list share 97.20%): 12.5% on the government-bond “white list” portion, 26% on the rest.
What is the fund size of UBS J.P. Morgan Global Gov ESG Liquid Bond UCITS ETF USD acc?
The fund size declared by UBS is about 103 million euro.
When was UBS J.P. Morgan Global Gov ESG Liquid Bond UCITS ETF USD acc launched?
The fund was launched on 1 October 2019: it has 6 years of history.
How does UBS J.P. Morgan Global Gov ESG Liquid Bond UCITS ETF USD acc 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 Global Gov ESG Liquid Bond UCITS ETF USD acc pay dividends?
No: it is an accumulating share class — income stays in the fund and is reinvested automatically (issuer wording: “Non”).
Where does UBS J.P. Morgan Global Gov ESG Liquid Bond UCITS ETF USD acc trade?
Per the official ESMA register it trades on 9 main exchanges, including Borsa Italiana (ETFplus) (EGO), Börse Düsseldorf (UIQG), Börse Frankfurt (UIQG), Börse Hamburg (UIQG), Börse Hannover (UIQG), Börse München / gettex (UIQG).
What was UBS J.P. Morgan Global Gov ESG Liquid Bond UCITS ETF USD acc's worst fall?
Over the available history (since 2019), the maximum drawdown was -28.27%, reached in October 2022. Past performance is not indicative of future results.
What is UBS J.P. Morgan Global Gov ESG Liquid Bond UCITS ETF USD acc's tracking difference?
Over the last 3 complete calendar years the fund returned on average -0.15% per year versus its index (from issuer-declared series).
How many securities does UBS J.P. Morgan Global Gov ESG Liquid Bond UCITS ETF USD acc hold?
The declared portfolio holds 1,443 securities; the top 10 positions weigh 2.7%.
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.