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

ISIN: LU2194286006Issuer: UBS
Issuer-declared data
TER
0.17%
Transaction costs
0.02% (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
13.9 mln EUR
NAV
9.84 EUR
Domicile
Luxembourg
Inception date
1 September 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.
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Description

UBS J.P. Morgan EMU Gov ESG Liquid Bond UCITS ETF EUR acc tracks the issuer-declared index: J.P. Morgan EMU Government ESG Liquid Bond Index. The declared annual cost (TER) is 0.17%, plus 0.02% 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 14 million euro, was launched on 1 September 2020 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 EMU 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 EMU 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: -0.19% p.a., against a declared TER of 0.17%.
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) · EUR · from Sept 2020 to Sept 2026
Compare with another ETF
Only funds we hold a history for. Three at a time, at most.
Return
-15.4%
Annualised
-2.7%
Volatility (ann.)
6.0%
Max drawdown
-23.19%
-23%-16%-9%-1%+6%Sept 2020Mar 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%)-15%Sept 2020Sept 2026
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%2020202120222023202420252026−23.19% · 28 Sept 2023
Max drawdown
-23.19%
peak → trough
Trough
28 Sept 2023
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 202028 Sept 2023-23.19%ongoing2,097
04 Nov 202010 Nov 2020-1.07%08 Dec 202034
16 Oct 202022 Oct 2020-0.77%04 Nov 202019
03 Sept 202010 Sept 2020-0.48%15 Sept 202012
29 Sept 202030 Sept 2020-0.23%09 Oct 202010

Calendar-year returns

2020
2.5%
2021
-3.8%
2022
-18.8%
2023
6.8%
2024
0.9%
2025
-0.5%
2026
-1.3%

Month-by-month returns

JanFebMarAprMayJunJulAugSeptOctNovDecYear
20260.61.4-2.40.21.00.4-1.7-0.6-0.2-1.3
2025-0.30.7-2.02.0-0.1-0.3-0.3-0.40.40.8-0.2-0.7-0.5
2024-0.6-1.41.0-1.6-0.20.52.00.41.2-1.12.4-1.60.9
20232.5-2.52.5-0.10.3-0.2-0.30.3-2.70.33.03.76.8
2022-1.1-1.8-2.3-3.8-1.8-1.84.0-5.3-4.00.12.5-4.9-18.8
2021-0.7-2.00.1-1.1-0.10.41.8-0.6-1.2-0.61.7-1.6-3.8
20201.00.10.22.5
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)
-0.19% /anno
Declared TER
0.17%
YearFundIndexDifference
2025-0.47%-0.28%-0.19%
2024+0.88%+1.07%-0.19%
2023+6.77%+6.97%-0.20%
2022-18.84%-18.73%-0.11%
2021-3.78%-3.56%-0.22%
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.)3.97%4.80%6.36%5.95%
Max drawdown-3.48%-4.55%-21.45%-23.19%
Sharpe-0.94-0.32-0.87-0.78
Sortino-1.27-0.45-1.23-1.09
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, the fund's currency; the table follows the currency selected in the chart.

Duration and maturities

Duration · modified duration
7.10years

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
481
Top-10 weight
7.9%

Top 10 holdings

FEDERAL REPUBLIC OF GERMANY BOND FIXED 2.9% 15/FEB/2036 EUR 0.01
0.95%
FRTR 1 3/4 06/25/39
0.84%
DBR 2.3 02/15/33
0.84%
BUNDESOBLIGATION 2.5 SOVEREIGN UNRATED EUR (EURO)
0.81%
DBR 2.6 08/15/34
0.78%
DBR 2 1/2 02/15/35
0.77%
DBR 2.2 02/15/34
0.76%
BUNDESREPUBLIK DEUTSC SOVEREIGN AAA AAA EUR (EURO)
0.74%
OBL 2.4 04/18/30
0.73%
DBR 2 1/2 08/15/46
0.71%

Countries

AfghanistanAngolaAlbaniaUnited Arab EmiratesArgentinaArmeniaFrench Southern and Antarctic LandsAustraliaAustria: 7.3%AzerbaijanBurundiBelgium: 3.6%BeninBurkina FasoBangladeshBulgariaThe BahamasBosnia and HerzegovinaBelarusBelizeBoliviaBrazilBruneiBhutanBotswanaCentral African RepublicCanadaSwitzerlandChileChinaIvory CoastCameroonDemocratic Republic of the CongoRepublic of the CongoColombiaCosta RicaCubaCyprusCzech RepublicGermany: 38.2%DjiboutiDenmarkDominican RepublicAlgeriaEcuadorEgyptEritreaSpain: 9.4%EstoniaEthiopiaFinland: 3.4%FijiFalkland IslandsFrance: 16.9%GabonUnited KingdomGeorgiaGhanaGuineaGambiaGuinea BissauEquatorial GuineaGreeceGreenlandGuatemalaFrench GuianaGuyanaHondurasCroatiaHaitiHungaryIndonesiaIndiaIreland: 3%IranIraqIcelandIsraelItaly: 7.2%JamaicaJordanJapanKazakhstanKenyaKyrgyzstanCambodiaSouth KoreaKosovoKuwaitLaosLebanonLiberiaLibyaSri LankaLesothoLithuaniaLuxembourgLatviaMoroccoMoldovaMadagascarMexicoMacedoniaMaliMyanmarMontenegroMongoliaMozambiqueMauritaniaMalawiMalaysiaNamibiaNew CaledoniaNigerNigeriaNicaraguaNetherlands: 8.4%NorwayNepalNew ZealandOmanPakistanPanamaPeruPhilippinesPapua New GuineaPolandPuerto RicoNorth KoreaPortugalParaguayQatarRomaniaRussiaRwandaWestern SaharaSaudi ArabiaSudanSouth SudanSenegalSolomon IslandsSierra LeoneEl SalvadorSomaliaRepublic of SerbiaSurinameSlovakiaSloveniaSwedenSwazilandSyriaChadTogoThailandTajikistanTurkmenistanEast TimorTrinidad and TobagoTunisiaTurkeyTaiwanUnited Republic of TanzaniaUgandaUkraineUruguayUnited States of AmericaUzbekistanVenezuelaVietnamVanuatuWest BankYemenSouth AfricaZambiaZimbabwe
up to 1%1–5%5–15%15–30%over 30%
Hover a country for its percentage.
Top 7 countries
Germany38.2%
France16.9%
Spain9.4%
Netherlands8.4%
Austria7.3%
Italy7.2%
Belgium3.6%
⬇ Download the full portfolio — Excel, 481 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 EMU Government ESG Liquid Bond Index
This fund belongs to the government bonds family: compare all census ETFs in this family →

Italian taxation

Effective rate on capital gains
12.71%
White-list share
98.42%
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)GEB8 Sept 2020
+ 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 EMU Gov ESG Liquid Bond UCITS ETF EUR acc track?
The issuer UBS declares the benchmark: J.P. Morgan EMU Government ESG Liquid Bond Index.
How much does UBS J.P. Morgan EMU Gov ESG Liquid Bond UCITS ETF EUR acc cost?
The issuer-declared TER is 0.17% per year; the transaction costs estimated in the KID are 0.02%.
How is UBS J.P. Morgan EMU Gov ESG Liquid Bond UCITS ETF EUR acc taxed in Italy?
On sale, the capital gain is taxed at an effective 12.71% rate (white-list share 98.42%): 12.5% on the government-bond “white list” portion, 26% on the rest.
What is the fund size of UBS J.P. Morgan EMU Gov ESG Liquid Bond UCITS ETF EUR acc?
The fund size declared by UBS is about 14 million euro.
When was UBS J.P. Morgan EMU Gov ESG Liquid Bond UCITS ETF EUR acc launched?
The fund was launched on 1 September 2020: it has 6 years of history.
How does UBS J.P. Morgan EMU Gov ESG Liquid Bond UCITS ETF EUR 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 EMU Gov ESG Liquid Bond UCITS ETF EUR acc pay dividends?
No: it is an accumulating share class — income stays in the fund and is reinvested automatically (issuer wording: “Non”).
What was UBS J.P. Morgan EMU Gov ESG Liquid Bond UCITS ETF EUR acc's worst fall?
Over the available history (since 2020), the maximum drawdown was -23.19%, reached in September 2023. Past performance is not indicative of future results.
What is UBS J.P. Morgan EMU Gov ESG Liquid Bond UCITS ETF EUR acc's tracking difference?
Over the last 3 complete calendar years the fund returned on average -0.19% per year versus its index (from issuer-declared series).
How many securities does UBS J.P. Morgan EMU Gov ESG Liquid Bond UCITS ETF EUR acc hold?
The declared portfolio holds 481 securities; the top 10 positions weigh 7.9%.
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.