The JPM Global High Yield Corporate Bond Multi-Factor UCITS ETF (JGHY) is an Ireland-domiciled fixed-income ETF managed by J.P. Morgan Asset Management. JGHY is the ticker for the fund's USD accumulating share class on the London Stock Exchange.

The fund seeks to track the JPMAM Global High Yield Multi-Factor Index, a benchmark designed to provide exposure to the global high-yield corporate bond market through a multi-factor approach.

The multi-factor strategy incorporates value, quality, and momentum criteria when selecting bonds. At the same time, it seeks to keep sector and currency exposures broadly aligned with the global high-yield corporate credit universe.

Composition / Exposure Profile

JGHY holds below-investment-grade corporate bonds issued by companies across different sectors and regions.

Its exposure can include sectors such as:

• Consumer.

• Communications.

• Energy.

• Industrials.

• Financials.

• Health care.

• Technology.

• Materials.

The strategy has a global investment universe, providing exposure to issuers across different markets. Because the international high-yield market has significant representation from U.S. and European issuers, these regions can account for substantial portions of the portfolio.

Because the fund invests in below-investment-grade securities, it carries greater credit and default risk than strategies focused on investment-grade bonds.

Structure and Costs

The fund and share class have the U.S. dollar as their base currency. On the London Stock Exchange, the accumulating share class trades in USD under JGHY and in GBP under JGYH.

The ETF has a total expense ratio (TER) of 0.35% per year, uses optimized physical replication, and is domiciled in Ireland. It operates as part of JPMorgan ETFs (Ireland) ICAV under the UCITS framework.

JGHY follows an accumulating income policy. Interest and other income generated by portfolio securities are therefore reinvested within the fund rather than periodically distributed to shareholders.

History and Evolution of the ETF

The JPM Global High Yield Corporate Bond Multi-Factor UCITS ETF (JGHY) was launched in 2020 to provide exposure to the global high-yield corporate bond market through a passive multi-factor strategy.

Since its launch, the fund has maintained a strategy linked to the JPMAM Global High Yield Multi-Factor Index, combining global high-yield credit exposure with systematic value, quality, and momentum criteria.

Throughout its history, JGHY's performance has reflected factors including changes in credit spreads, interest rates, economic conditions, and corporate financing environments, alongside the effects of the benchmark's multi-factor security-selection approach.

Additional Information

JPM Global High Yield Corporate Bond Multi-Factor UCITS ETF Acc (Ireland) is an exchange-traded fund (ETF), with assets under management totaling $56.81 million.

Over the past 12 months, JPM Global High Yield Corporate Bond Multi-Factor UCITS ETF Acc recorded a return of 2.03%, with its price trading between $123.75 and $131.66 during the same period.

The ETF is traded under the ticker JGHY.