The JPM BetaBuilders US Treasury Bond UCITS ETF (BBRT) is an Ireland-domiciled fixed-income ETF managed by J.P. Morgan Asset Management. BBRT is the ticker for the fund's GBP trading line on the London Stock Exchange.

The fund seeks to track the J.P. Morgan Government Bond Index United States, a benchmark representing U.S. dollar-denominated government debt securities issued by the United States.

BBRT provides exposure to U.S. Treasuries across different maturity segments. The fund follows a passive investment strategy designed to closely track the characteristics and performance of its benchmark.

The J.P. Morgan Government Bond Index United States uses a market-value-weighted methodology for eligible securities. By covering different maturity segments of the U.S. Treasury yield curve, the strategy generally has greater interest-rate sensitivity than funds focused exclusively on very short-term Treasury securities.

Composition / Exposure Profile

BBRT's portfolio is concentrated in U.S. dollar-denominated debt securities issued by the U.S. government.

Its exposure can include U.S. Treasuries across different maturity ranges, providing broader access to the U.S. sovereign yield curve.

Because the portfolio consists of U.S. federal government debt, its exposure to corporate credit risk is limited. However, the fund remains exposed to interest-rate risk, with the impact of changes in Treasury yields varying according to the duration of the securities held in the portfolio.

Performance can be influenced by Federal Reserve monetary policy, inflation and economic growth expectations, changes in interest rates, and shifts in demand for U.S. government securities across global financial markets.

Structure and Costs

The fund and share class have the U.S. dollar as their base currency. On the London Stock Exchange, the share class trades in GBP under BBRT and in USD under BBTR. Trading the fund in GBP does not mean that the share class is hedged against movements in the U.S. dollar.

The ETF has a total expense ratio (TER) of 0.07% per year and is domiciled in Ireland as part of JPMorgan ETFs (Ireland) ICAV under the UCITS framework.

BBRT follows an accumulating income policy. Income generated by the portfolio's securities is therefore reinvested within the fund rather than periodically distributed to shareholders.

History and Evolution of the ETF

The JPM BetaBuilders US Treasury Bond UCITS ETF was launched in 2019 to provide passive exposure to the U.S. Treasury market.

Since its launch, the fund has maintained a strategy linked to the J.P. Morgan Government Bond Index United States, providing exposure to U.S. government securities across different segments of the maturity spectrum.

Throughout its history, the fund's performance has primarily reflected changes in U.S. interest rates and the Treasury yield curve. 

Additional Information

JPM BetaBuilders US Treasury Bond UCITS ETF – USD Acc (Ireland) is an exchange-traded fund (ETF), with assets under management totaling $13.45 million.

Over the past 12 months, JPM BetaBuilders US Treasury Bond UCITS ETF – USD Acc recorded a return of -2.72%, with its price trading between $0.00 and $109.24 during the same period.

The ETF is traded under the ticker BBRT.