# Global Government Bond Active UCITS ETF AccumHedged GBP (JGGV) **Page:** https://fundology.uk/fund/jggv · ISIN IE000TWNMI25 ## At a glance > Capital at risk. Past performance is not a guide to future returns. The value of investments can fall as well as rise. As of 13/11/2026, JGGV (Global Government Bond Active UCITS ETF AccumHedged GBP, ISIN IE000TWNMI25) closed at £7.49 on the London Stock Exchange. Its ongoing charge is 0.54% a year (about £54 on £10,000). Over the year to 13/11/2026 its total return was −0.4%, or −3.9% after UK CPIH inflation. ## Summary Global Government Bond Active UCITS ETF AccumHedged GBP is an exchange-traded fund (ETF) from JPMorgan, launched in 2025. It tracks the No Underlying Index. You buy and sell it through a share-dealing account or platform during stock-market hours, like a share. Its ongoing charge is 0.54% a year — about £54 a year on every £10,000 invested, taken from the fund's value rather than billed to you. Income from its investments is reinvested inside the fund, so it shows up as a rising price rather than cash paid to you. It is currency-hedged: it aims to remove most of the effect of exchange-rate moves against the pound. Latest close: **£7.49** (13/11/2026). ## Key facts | Fact | Value | |---|---| | Ticker (LSE) | JGGV | | ISIN | IE000TWNMI25 | | Category | Government bonds | | Type | ETF | | Provider | JPMorgan | | Income | Accumulating | | Ongoing charge | 0.54% a year (£54 per £10,000) | | Fund size | £58.4m | | Launched | 2025 | | Domicile | Ireland | | UK reporting fund status | Yes — on HMRC’s list of reporting funds (list of 02/11/2026); reporting fund since 04/06/2025 | ## Past returns (periods to 13/11/2026) After the fund's ongoing charges. "Income reinvested" is total return; "price only" leaves out income paid out. Real returns are after UK CPIH inflation. | Window | Return | After CPIH inflation | Measured as | |---|---|---|---| | 1 year | -0.40% | -3.92% | income reinvested | Returns: as reported (delayed data). Inflation: UK CPIH, latest month published. ## Calendar-year returns Calendar-year returns of Global Government Bond Active UCITS ETF AccumHedged GBP in pounds (price, with income reinvested in the fund): 2026 to 13/11/2026 −0.8%. Returns of Global Government Bond Active UCITS ETF AccumHedged GBP in pounds (price, with income reinvested in the fund) over the 12 months to 30/09/2026: −1.7%. | Year | Return | After CPIH inflation | Measured as | |---|---|---|---| | 2026 to 13/11/2026 | -0.8% | -4.0% | Price | ## Risk metrics | Window | Volatility | Max drawdown | |---|---|---| | 1 year | 4.20% | -3.91% | ## Largest fall Volatility of Global Government Bond Active UCITS ETF AccumHedged GBP in pounds, annualised from weekly returns to 13/11/2026: 4.2% over 1 year. Largest fall in the price of Global Government Bond Active UCITS ETF AccumHedged GBP since June 2025, in pounds: −3.9% from 27/02/2026 to 02/10/2026. On 13/11/2026 the price of Global Government Bond Active UCITS ETF AccumHedged GBP was 2.9% below its highest weekly close since June 2025 (27/02/2026), in pounds. ## Charges compared with similar funds Ongoing charge of Global Government Bond Active UCITS ETF AccumHedged GBP 0.54% a year. Compared on 14/11/2026, 6 of the 311 other government bond funds charge more, 1 the same and 304 less (share classes counted once). ## Charges & eligibility - Ongoing charges figure (OCF): **0.54%** per year (as of 02/11/2026) - Stocks and shares ISA eligible: usually (check with your platform) - SIPP eligible: usually (check with your provider) - ISA and SIPP mean the kind of product usually qualifies under HMRC rules. We do not check each platform’s list — each provider decides which funds it offers. Crypto ETNs have not qualified for a stocks and shares ISA since 06/04/2026, and overseas funds that are not UK-recognised UCITS, such as Swiss ETFs, do not usually qualify. ## What it holds As of 13/11/2026, JGGV holds 522 positions, according to its published holdings. The largest is Cash and Cash Equivalent at 11.89% of the fund; the ten largest make up 34.8%. ### Top holdings Largest positions (as of 13/11/2026), as a percentage of the whole fund: | # | Holding | Ticker | Weight | |---|---|---|---| | 1 | Cash and Cash Equivalent | — | 11.89% | | 2 | France (Gov 2.4% 09/24/29/EUR/ | — | 6.37% | | 3 | US Treas Nts 3.5% 04/30/28 | — | 2.56% | | 4 | Jpn Bank 3.125% 04/22/31/EUR/ | — | 2.42% | | 5 | US Treas Nts 3.25% 06/30/29 | — | 2.08% | | 6 | Bank Gospodarst 5.75% 07/09/34 | — | 2.01% | | 7 | US Treas Nts 4.25% 07/31/28 | — | 1.98% | | 8 | Japan (10 Y 0.1% 09/20/29/JPY/ | — | 1.96% | | 9 | US Treas Bds 5.125% 08/15/46 | — | 1.82% | | 10 | US Treas Nts 4% 07/31/29 | — | 1.74% | ## Where it invests Shares of the whole fund. Bonds, cash and positions without a classification are shown as they come, not guessed. ### By sector As published for the fund, as of 13/11/2026. | Sector | Weight | |---|---| | Government/ Cash | 80.7% | | Foreign Agencies | 13.2% | | Hard Currency Sovereign | 4.8% | | Supranationals | 1.4% | ### By country Added up from the fund’s published holdings, as of 13/11/2026. | Country | Weight | |---|---| | United States | 32.0% | | Japan | 14.0% | | France | 10.5% | | China | 9.9% | | Italy | 4.1% | | United Kingdom | 4.0% | | Spain | 3.8% | | Poland | 3.6% | | Other countries | 15.9% | | Not classified | 2.1% | ### By type of asset Added up from the fund’s published holdings, as of 13/11/2026. | Type of asset | Weight | |---|---| | Bonds | 89.2% | | Cash and money market | 10.8% | The 472 holdings on record (of 522 reported): https://fundology.uk/fund/jggv/holdings ## Questions people ask **What is the ongoing charge of JGGV?** The ongoing charge of JGGV is 0.54% a year — about £54 a year on every £10,000 invested, taken from the fund’s value rather than billed to you. Platform and dealing fees are charged separately. Ongoing charge of Global Government Bond Active UCITS ETF AccumHedged GBP 0.54% a year. Compared on 14/11/2026, 6 of the 311 other government bond funds charge more, 1 the same and 304 less (share classes counted once). **Is JGGV accumulating or distributing?** JGGV is accumulating: income is reinvested inside the fund, so it shows up as a rising price rather than cash paid to you. **What is the ISIN of JGGV?** The ISIN of JGGV is IE000TWNMI25. An ISIN identifies one exact share class of a fund; JGGV is its ticker on the London Stock Exchange. **What does JGGV hold?** As of 13/11/2026, JGGV holds 522 positions, according to its published holdings. The largest is Cash and Cash Equivalent at 11.89% of the fund; the ten largest make up 34.8%. Its ten largest holdings are Cash and Cash Equivalent (11.89%), France (Gov 2.4% 09/24/29/EUR/ (6.37%), US Treas Nts 3.5% 04/30/28 (2.56%), Jpn Bank 3.125% 04/22/31/EUR/ (2.42%), US Treas Nts 3.25% 06/30/29 (2.08%), Bank Gospodarst 5.75% 07/09/34 (2.01%), US Treas Nts 4.25% 07/31/28 (1.98%), Japan (10 Y 0.1% 09/20/29/JPY/ (1.96%), US Treas Bds 5.125% 08/15/46 (1.82%) and US Treas Nts 4% 07/31/29 (1.74%). **What were JGGV’s returns in each of the last five years?** Calendar-year returns of JGGV in pounds (price, with income reinvested in the fund): 2026 to 13/11/2026 −0.8%. Past performance is not a guide to future returns. **How has JGGV done after inflation?** Over the year to 13/11/2026 JGGV’s total return was −0.4%, or −3.9% after UK CPIH inflation. Past performance is not a guide to future returns. ## Fund documents - [Fund page at J.P. Morgan Asset Management](https://am.jpmorgan.com/gb/en/asset-management/per/products/jpm-global-government-bond-active-ucits-etf-gbp-hedged-acc-ie000twnmi25) - [Key investor information document (KIID)](https://wl.fundsquare.net/serv/down-doc/request?cdClient=jpmorgan&isin=IE000TWNMI25&docTypeCode=KIID&docLang=EN&docCountry=GB) - Links checked 12/10/2026. --- We show information. We are not financial advisers, not authorised by the FCA, and never recommend specific investments. Capital at risk. Past performance is not a guide to future returns. The value of investments can fall as well as rise.