OpenList — Active ETFs

JPMorgan Global High Yield Corporate Bond Multi-Factor Active UCITS ETF

Fixed Income · Global · High Yield Bonds

Figures refer to the share class ISIN IE00BKKCKJ46, currency USD, retail share class.

Fund documents

For the share class shown above.

Factsheet (PDF, 31.08.2026)KID (PDF, 28.04.2026)

Key facts

Management company
JPMorgan Asset Management (Europe) S.à r.l.
Asset class
Fixed Income
Geography
Global
Strategy
High Yield Bonds
Share class currency
USD
Share class inception
04.02.2020
Fund size
474 million (as at 14.09.2026)
Management fee
0.35%
Performance fee
No
Liquidity
Not available in this publication
UCITS
Yes
Risk grade (SRRI)
Not available in this publication
Registered in Switzerland
Yes

Price history

Fund and benchmark rebased to 100 at 02.10.2023.

100110120130140202420252026132.7128.8Fund (share class shown)Benchmark100110120130140202420252026132.7128.8Fund (share class shown)Benchmark
Table view
PeriodFromFund (100 at start)Benchmark (100 at start)
1Y03.10.2025101.9100.2
Since 202302.10.2023128.8132.7

Total return: distributions reinvested.
In USD, the currency of the share class shown.
Fund history to 29.09.2026.
Benchmark history to 28.09.2026.
The table shows each series at its own ending date; the comparison periods are not identical.
Past performance is not a reliable indicator of future results, and the value of investments can fall as well as rise.

Performance against the benchmark

017YTD: Fund 3.20%YTD: Global high yield (tracker proxy) USD 1.85%YTD1Y: Fund 6.07%1Y: Global high yield (tracker proxy) USD 3.41%1Y3Y p.a.: Fund 9.04%3Y p.a.: Global high yield (tracker proxy) USD 9.58%3Y p.a.5Y p.a.: Fund 3.89%5Y p.a.: Global high yield (tracker proxy) USD 2.88%5Y p.a.2025: Fund 11.59%2025: Global high yield (tracker proxy) USD 15.23%20252024: Fund 6.44%2024: Global high yield (tracker proxy) USD 5.40%20242023: Fund 11.13%2023: Global high yield (tracker proxy) USD 17.87%2023Fund (share class shown)BenchmarkYTDYTD: Fund 3.20%3.20YTD: Global high yield (tracker proxy) USD 1.85%1.851Y1Y: Fund 6.07%6.071Y: Global high yield (tracker proxy) USD 3.41%3.413Y p.a.3Y p.a.: Fund 9.04%9.043Y p.a.: Global high yield (tracker proxy) USD 9.58%9.585Y p.a.5Y p.a.: Fund 3.89%3.895Y p.a.: Global high yield (tracker proxy) USD 2.88%2.8820252025: Fund 11.59%11.592025: Global high yield (tracker proxy) USD 15.23%15.2320242024: Fund 6.44%6.442024: Global high yield (tracker proxy) USD 5.40%5.4020232023: Fund 11.13%11.132023: Global high yield (tracker proxy) USD 17.87%17.87Fund (share class shown)Benchmark
1M3M6MYTD2025202420231Y3Y5YVolatilitySharpe R.Max DD
FundISIN IE00BKKCKJ46, currency USD, retail share class1.001.222.083.2011.596.4411.136.079.043.894.990.85-2.28
BenchmarkGlobal high yield (tracker proxy) USD1.441.561.941.8515.235.4017.873.419.582.889.420.54-6.21
Differencefund minus benchmark, in percentage points-0.43-0.340.141.35-3.631.04-6.742.66-0.541.01–––

Within the list: OpenList — Active ETFs

Compared with the fixed income funds on OpenList — Active ETFs (11 funds), each in the share class and currency its list shows. Returns are in each share class's own currency and are not converted.

This fundGroup medianPosition
Return 1Y6.071.772 of 11
Return 3Y p.a.9.044.201 of 11
3Y p.a. over its own benchmark-0.54-0.0710 of 11
Volatility 3Y4.993.498 of 11
Sharpe ratio 3Y0.850.451 of 10 (1 without a value)
Max drawdown 3Y-2.28-2.295 of 10 (1 without a value)
Management fee0.35%0.19%10 of 11

Position 1 is the highest value, except for volatility and the management fee, where 1 is the lowest; for max drawdown, 1 is the smallest fall.

Return against risk, 3 years

010Return 3Y p.a. (%)Volatility 3Y (%)07JPMorgan EUR 1-5 yr IG Corporate Bond Active UCITS ETF: volatility 2.17%, return 4.03% p.a.PIMCO Euro Short Maturity UCITS ETF: volatility 1.82%, return 3.44% p.a.JPMorgan EUR IG Corporate Bond Active UCITS ETF: volatility 3.49%, return 4.14% p.a.BNP PARIBAS EASY II EUR Credit PAB Opportunities UCITS ETF: volatility 3.56%, return 4.20% p.a.JPMorgan USD IG Corporate Bond Active UCITS ETF: volatility 6.39%, return 5.02% p.a.Invesco EUR Corporate Bond ESG Multi-Factor UCITS ETF: volatility 3.36%, return 3.98% p.a.Fidelity ESG USD EM Bond UCITS ETF: volatility 6.35%, return 7.88% p.a.Fidelity Global Corporate Bond Research Enhanced PAB UCITS ETF: volatility 6.52%, return 5.45% p.a.Franklin Euro Short Maturity UCITS ETF: volatility 0.47%, return 3.09% p.a.PIMCO Advantage US Low Duration Corporate Bond UCITS ETF: volatility 2.61%, return 5.32% p.a.JPMorgan Global High Yield Corporate Bond Multi-Factor Active UCITS ETF: volatility 4.99%, return 9.04% p.a.This fund010Return 3Y p.a. (%)Volatility 3Y (%)07JPMorgan EUR 1-5 yr IG Corporate Bond Active UCITS ETF: volatility 2.17%, return 4.03% p.a.PIMCO Euro Short Maturity UCITS ETF: volatility 1.82%, return 3.44% p.a.JPMorgan EUR IG Corporate Bond Active UCITS ETF: volatility 3.49%, return 4.14% p.a.BNP PARIBAS EASY II EUR Credit PAB Opportunities UCITS ETF: volatility 3.56%, return 4.20% p.a.JPMorgan USD IG Corporate Bond Active UCITS ETF: volatility 6.39%, return 5.02% p.a.Invesco EUR Corporate Bond ESG Multi-Factor UCITS ETF: volatility 3.36%, return 3.98% p.a.Fidelity ESG USD EM Bond UCITS ETF: volatility 6.35%, return 7.88% p.a.Fidelity Global Corporate Bond Research Enhanced PAB UCITS ETF: volatility 6.52%, return 5.45% p.a.Franklin Euro Short Maturity UCITS ETF: volatility 0.47%, return 3.09% p.a.PIMCO Advantage US Low Duration Corporate Bond UCITS ETF: volatility 2.61%, return 5.32% p.a.JPMorgan Global High Yield Corporate Bond Multi-Factor Active UCITS ETF: volatility 4.99%, return 9.04% p.a.This fund

WSP commentary

Draft commentary, machine-generated from the fund's monthly factsheet dated 31.08.2026; key information document (PRIIPs), not yet reviewed by WSP.

Investment rationale

This fund is designed to provide exposure to the global below investment grade corporate bond market through an active multi-factor strategy, with the objective of achieving a long-term return in excess of the ICE BofA Global High Yield Index. It is intended for investors who plan to stay invested for at least 5 years and who are prepared to accept the risks and volatility associated with global high yield bonds. The Key Information Document classifies it as risk indicator 2 out of 7, while the portfolio is predominantly invested in sub-investment-grade corporate debt, making it a distinct way to access high yield through a rules-based factor process combined with ESG characteristics. Its focus on below investment grade corporate bonds globally, including emerging markets, and its Article 8 ESG promotion framework make it a differentiated portfolio allocation rather than a broad all-asset holding.

Investment strategy

The stated objective is to achieve a long-term return in excess of the ICE BofA Global High Yield Index by actively investing primarily in a portfolio of below investment grade corporate debt securities globally. The Sub-Fund aims to invest at least 67% of its assets, excluding assets held for ancillary liquidity purposes, in below investment grade corporate debt securities, and issuers may be located in any country including emerging markets. As of 31 August 2026, the portfolio held 97.26% in corporate bonds and 2.56% in cash, with average duration of 3.30 years, average maturity of 4.28 years, yield to maturity of 7.07%, average coupon of 6.49%, and 96.43% of holdings rated below BBB. The benchmark is used as a reference point against which performance may be measured; the fund will not seek to track or replicate it, although currency exposure may be managed by reference to the benchmark. The fund may use financial derivative instruments for efficient portfolio management purposes, does not pay dividends because income is retained in NAV, and has a recommended holding period of 5 years.

Investment philosophy

• The investment universe is global below investment grade corporate debt securities, including issuers in emerging markets, with at least 67% of assets invested in below investment grade corporate debt securities excluding ancillary liquidity assets.

• Security selection is active and quantitative, using an equally weighted multi-factor score built from Value, Momentum and Quality, comparing bonds against peers in the same market sector, currency and creditworthiness group.

• ESG is systematically integrated: at least 75% of non-investment grade and emerging market securities purchased are subject to ESG analysis, at least 51% of NAV is invested in issuers with positive environmental and/or social characteristics and good governance practices, and at least 10% of NAV is invested in Sustainable Investments under SFDR.

• Values- and norms-based screening is applied to exclude certain industries and issuers based on specific ESG criteria and minimum standards of business practice, using third-party providers to identify issuer involvement or revenue exposure.

• As of 31 August 2026 the portfolio held 417 securities, with largest positions including Endeavour Mining, ACEK Group and D'Ieteren at 1.0% each; it was positioned 65.4% in North America and 19.0% in Europe, and 78.2% in Industrials and 14.5% in Finance, with 97.26% in corporate bonds and 2.56% in cash.

Management team

The portfolio managers named in the factsheet are Russ Taylor, Edward Gibbons and John Lux. The documents identify them only as portfolio manager(s) for the Sub-Fund. The fund and the USD (acc) share class both launched on 4 February 2020.

The asset manager

The management company is JPMorgan Asset Management (Europe) S.à r.l., which the documents describe as a member of JPMorgan Chase & Co. and part of the asset management businesses marketed as J.P. Morgan Asset Management. The management company is located at 6, route de Trèves, L-2633 Senningerberg, Luxembourg, and the factsheet also states corporate capital of EUR 10,000,000. The Sub-Fund is a sub-fund of JPMorgan ETFs (Ireland) ICAV, authorised in Ireland and regulated by the Central Bank of Ireland.

Strengths

The fund combines active high yield investing with a systematic multi-factor process built on Value, Momentum and Quality, rather than seeking to replicate its benchmark. It also embeds ESG characteristics through Article 8 classification, issuer screening, minimum ESG coverage for purchased non-investment grade and emerging market securities, a requirement that at least 51% of NAV be in issuers with positive environmental and/or social characteristics and good governance practices, and a minimum 10% allocation to Sustainable Investments. The portfolio is diversified across 417 holdings and listed on multiple exchanges and trading currencies, including London Stock Exchange, Borsa Italiana, Deutsche Börse, SIX Swiss Exchange and Bolsa Mexicana de Valores. The ongoing charge is 0.35%, and the ETF publicly discloses its complete holdings on a daily basis.

Risks

The documents state that the value of debt securities may change significantly with economic conditions, interest rates and issuer creditworthiness, and that issuers may fail to meet payment obligations or suffer downgrades. These risks are typically increased because the fund invests primarily in below investment grade debt securities, which may also have higher volatility and lower liquidity than investment grade debt, and the portfolio was 96.43% below BBB as of 31 August 2026. The Sub-Fund may also be affected by currency fluctuations and exchange control regulations because it can invest in securities denominated in currencies other than the base currency, and it may invest in emerging markets, which the documents associate with increased political, regulatory and economic instability, weaker custody and settlement practices, poor transparency and greater financial risks. The fund may use derivatives for efficient portfolio management, may underperform its benchmark despite seeking to exceed it, and ESG exclusions may cause it to perform differently from similar funds without such policies. The Key Information Document gives the product a summary risk indicator of 2 out of 7 and notes that risk may be significantly higher if held for less than the recommended 5-year holding period.

WSP report

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Performance: in %, in the currency of the share class shown. 3Y and 5Y are annualised. Volatility and Sharpe ratio are over three years; Max DD is the largest fall over three years.
Benchmark: each fund is measured against the index its own documents name. Where WSP measures a fund against a comparator of its own instead, the row names it: a tracker or a blend of the markets the fund invests in, or a cash-plus hurdle
– means not applicable. "Not available in this publication" means no value is shown here; it does not mean zero.
Period figures as of 31.08.2026.

This page is advertising within the meaning of the Swiss Financial Services Act. It is not an offer, a recommendation or investment advice. The prospectus and key information document for any fund shown may be obtained free of charge from its management company or Swiss representative