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

ISIN: LU1974694041Issuer: UBSCurrency hedging: USD-hedged share class
Issuer-declared data
TER
0.18%
Transaction costs
0.03% (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?
NAV
12.85 USD
Domicile
Luxembourg
Inception date
14 October 2020
Data as declared by UBS in the issuer’s official files and endpoints · collected on 2 September 2026 (monthly refresh). Facts only, no recommendation.
Fund historyThe fund-assets (AUM) chart year by year, from declared data.Open the history →
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Description

UBS J.P. Morgan Global Gov ESG Liquid Bond UCITS ETF hUSD acc tracks the issuer-declared index: J.P. Morgan Global Government ESG Liquid Bond hedged to USD Index (Total Return). The declared annual cost (TER) is 0.18%, plus 0.03% in transaction costs estimated by the issuer in the KID. The fund was launched on 14 October 2020 and is domiciled in Luxembourg.

The fund’s objective — in the issuer’s words(the issuer publishes the KID in Italian)

Il Fondo è gestito in modo passivo e assumerà un'esposizione proporzionale alle componenti del J.P. Morgan Global Government ESG Liquid Bond Index (Total Return) attraverso un approccio stratificato (strategia di campionamento stratificato) che prevede l'investimento in un campione rappresentativo di titoli che compongono l'indice selezionati dal gestore di portafoglio mediante una tecnica di «ottimizzazione del portafoglio». L'esposizione proporzionale del Fondo alle componenti dell'indice sarà in gran parte ottenuta con l'investimento diretto o l'utilizzo di derivati oppure con una combinazione di entrambe le tecniche. Il Fondo può anche detenere titoli non compresi nel suo Indice di riferimento qualora il gestore di portafoglio lo ritenga appropriato in funzione dell'obiettivo e delle restrizioni d'investimento del Fondo o di altri fattori. Il Fondo investirà il suo patrimonio netto prevalentemente in obbligazioni, valori mobiliari, strumenti del mercato monetario, quote di organismi d'investimento collettivo, depositi presso istituti di credito, titoli strutturati quotati o negoziati su un mercato regolamentato e altre attività idonee ai sensi del prospetto informativo. Il comparto promuove caratteristiche ambientali e/o sociali ma non ha come obiettivo investimenti sostenibili. Il Fondo non effettuerà operazioni di prestito titoli. Il rendimento del fondo dipende principalmente dalla performance dell'indice replicato. I proventi del Fondo non vengono versati, bensì reinvestiti. Il rischio di cambio della valuta della classe di azioni è in larga misura coperto dalla valuta del fondo.

Keep reading the KID section ▾

Investitore al dettagliocui si intende commercializzare il prodotto Questo fondo è destinato a investitori retail con conoscenze di base in materia finanziaria, che sono in grado di sostenere una possibile perdita sull'importo investito. Il fondo mira a generare una quota consistente del suo rendimento attraverso fonti di reddito ricorrente e si rivolge agli investitori che hanno una preferenza per gli investimenti sostenibili, fornendo al contempo accesso giornaliero al capitale in condizioni di mercato normali. Mediante questo fondo, gli investitori possono soddisfare le loro necessità di investimento a breve termine. Questo fondo è indicato per essere acquistato dai segmenti di clientela target senza restrizioni a livello di canale o di piattaforma di distribuzione. Banca depositaria State Street Bank International GmbH, Succursale del Lussemburgo

Ulteriori informazioni Le informazioni su UBS J.P.

From the KID’s “Objectives” section · 2 September 2026 · original document ↓
Text generated from the data the issuer declares in official product lists. No recommendation.

Quick reads

  • TER 0.18%: above the median of bond ETFs we track (0.15%).
  • Average tracking difference over the last 3 years: -0.18% p.a., against a declared TER of 0.18%.
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 Italian, from the issuer’s site — always the latest filed version
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 2020 to Sept 2026
Compare with another ETF
Only funds we hold a history for. Three at a time, at most.
Return
-5.5%
Annualised
-1.0%
Volatility (ann.)
4.2%
Max drawdown
-16.17%
-19%-13%-8%-2%+3%Oct 2020Apr 2022Sept 2023Mar 2025Sept 2026The break-even line: the value at the start of the period. Above it you are in gain, below in loss.break-even (0%)-6%Oct 2020Sept 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.
Currency-hedged share class: our figures are computed on the issuer’s NAV, where the hedge is applied at the daily fixing. Comparison sites using the exchange price may show returns and volatility that differ by 1–2 points: on hedged classes the price-vs-NAV gap is structurally wider and grows with the length of the window. Not a data error — a measurement convention. Details in the methodology.
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%202120222023202420252026−16.17% · 21 Oct 2022
Max drawdown
-16.17%
peak → trough
Trough
21 Oct 2022
from the 11 Dec 2020 peak
Recovery time
not yet
recovery only: trough to break-even
Underwater
2,097 days
decline + recovery: peak to break-even · ≈ 5 years and 9 months · (ongoing)

The five worst falls in the period

From the peak ofTroughDepthBack to break-evenDays underwater
11 Dec 202021 Oct 2022-16.17%ongoing2,097
16 Oct 202010 Nov 2020-1.09%11 Dec 202056

Calendar-year returns

2020
-0.1%
2021
-2.6%
2022
-12.3%
2023
6.2%
2024
1.7%
2025
3.1%
2026
-0.6%

Month-by-month returns

JanFebMarAprMayJunJulAugSeptOctNovDecYear
20260.21.7-2.10.00.60.4-1.2-0.1-0.0-0.6
20250.21.1-0.71.3-0.50.6-0.20.20.70.90.0-0.53.1
2024-0.5-0.80.9-1.70.40.81.90.91.1-1.41.3-1.11.7
20232.1-1.62.60.3-0.7-0.3-0.4-0.1-1.8-0.53.33.36.2
2022-1.5-1.0-2.2-2.6-0.6-1.22.3-2.9-3.0-0.22.1-2.0-12.3
2021-0.9-2.2-0.30.10.20.51.4-0.3-1.2-0.21.2-0.9-2.6
20200.20.1-0.1
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 5 calendar years: a past observation, not an indication of future outperformance.
Average TD (last 3 years)
-0.18% /anno
Declared TER
0.18%
YearFundIndexDifference
2025+3.12%+3.31%-0.19%
2024+1.71%+1.89%-0.18%
2023+6.21%+6.37%-0.16%
2022-12.31%-12.15%-0.16%
2021-2.63%-2.41%-0.21%
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.)5.54%7.09%8.54%8.25%
Max drawdown-4.43%-11.86%-13.23%-13.23%
Sharpe-0.24-0.36-0.30-0.31
Sortino-0.33-0.48-0.41-0.43
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
6.68years

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

Source: factsheet UBS, data as of 30 June 2026. Values as declared by the issuer, not computed by us; updated with the monthly document.

Index tracked

J.P. Morgan Global Government ESG Liquid Bond hedged to USD 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 →

Frequently asked questions

Which index does UBS J.P. Morgan Global Gov ESG Liquid Bond UCITS ETF hUSD acc track?
The issuer UBS declares the benchmark: J.P. Morgan Global Government ESG Liquid Bond hedged to USD Index (Total Return).
How much does UBS J.P. Morgan Global Gov ESG Liquid Bond UCITS ETF hUSD acc cost?
The issuer-declared TER is 0.18% per year; the transaction costs estimated in the KID are 0.03%.
How is UBS J.P. Morgan Global Gov ESG Liquid Bond UCITS ETF hUSD 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.
When was UBS J.P. Morgan Global Gov ESG Liquid Bond UCITS ETF hUSD acc launched?
The fund was launched on 14 October 2020: it has 5 years of history.
How does UBS J.P. Morgan Global Gov ESG Liquid Bond UCITS ETF hUSD acc replicate its index?
It is a passively managed ETF: it follows the declared index. Physical (mixed: optimised/sampled) (issuer wording: “Physical + Optimized (equities) / sampled (bonds)”).
Does UBS J.P. Morgan Global Gov ESG Liquid Bond UCITS ETF hUSD acc pay dividends?
Issuer-declared income policy: “No”.
What was UBS J.P. Morgan Global Gov ESG Liquid Bond UCITS ETF hUSD acc's worst fall?
Over the available history (since 2020), the maximum drawdown was -16.17%, 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 hUSD acc'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.