# JPM USD Ultra-Short Income Active UCITS ETF Accum Shs USD (JPAS)

**Source:** https://fundology.uk/fund/jpas · ISIN IE00BG8BCY43 · Data: TradingView (LSE closes and returns, delayed), issuer documents, ONS CPIH, FCA FIRDS

## 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 30/09/2026, JPAS (JPM USD Ultra-Short Income Active UCITS ETF, ISIN IE00BG8BCY43) closed at £95.06 on the London Stock Exchange. Its ongoing charge is 0.18% a year (about £18 on £10,000). Over the five years to 30/09/2026 its total return was +23.0%, or −3.8% after UK CPIH inflation.

## Summary

JPM USD Ultra-Short Income Active UCITS ETF Accum Shs USD is an exchange-traded fund (ETF) from JPMorgan, launched in 2019. It aims to deliver a multiple, or the opposite, of one day’s move in what it tracks. The multiple resets daily, so over longer periods its return can differ a lot from the multiple of the index return. You buy and sell it through a share-dealing account or platform during stock-market hours, like a share. Its ongoing charge is 0.18% a year — about £18 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.

> **Leveraged & inverse:** Built for short-term trading. Because the multiple resets every day, losses can build up quickly when held for longer, even if the index ends up where it started.

Latest close: **£95.06** (30/09/2026).

## Key facts

| Fact | Value |
|---|---|
| Ticker (LSE) | JPAS |
| ISIN | IE00BG8BCY43 |
| Category | Leveraged & inverse |
| Type | ETF |
| Provider | JPMorgan |
| Income | Accumulating |
| Ongoing charge | 0.18% a year (£18 per £10,000) |
| Fund size | £474m |
| Launched | 2019 |
| Domicile | Ireland |

## Past returns (periods to 30/09/2026)

After the fund's ongoing charges. "Income reinvested" is total return; "price only" leaves out income paid out. Real returns are after ONS CPIH inflation.

| Window | Return | After CPIH inflation | Measured as |
|---|---|---|---|
| 1 year | +5.04% | +1.75% | income reinvested |
| 3 years | +6.37% | -4.01% | income reinvested |
| 5 years | +23.04% | -3.82% | income reinvested |

Returns: TradingView (delayed data). Inflation: ONS CPIH, latest month published.

## Charges compared with similar funds

Ongoing charge of JPM USD Ultra-Short Income Active UCITS ETF Accum Shs USD 0.18% a year, as of 01/10/2026: 219 of the 280 other leveraged and inverse products charge more, 2 the same and 59 less (share classes counted once).

## Charges & eligibility

- Ongoing charges figure (OCF): **0.18%** per year
- ISA eligible: yes
- SIPP eligible: yes

## Top holdings

Largest positions (as of 30/09/2026):

| Holding | Weight |
|---|---|
| US Treas Nts 3.375% 02/29/28 | 3.19% |
| Cooperat Rabobank V/R 01/14/28 | 2.89% |
| CRH Amer Fin Inc Disc 02/12/27 | 1.09% |
| Suncorp Bk Norfi Disc 11/27/26 | 1.02% |
| Mizuho Bk Ltd 4.2% 03/24/27 | 0.99% |
| Home Depot Inc 2.875% 04/15/27 | 0.96% |
| Roche Holdings 2.314% 03/10/27 | 0.95% |
| Fells Point Fu 3.046% 01/31/27 | 0.78% |
| Bank of America C V/R 04/27/28 | 0.75% |
| ING US Fdg LLC Disc 12/11/26 | 0.72% |

## Where it invests

Shares of the whole fund. Bonds, cash and positions the source does not classify are shown as they come, not guessed.

### By sector

As published by JPMorgan, as of 30/09/2026.

| Sector | Weight |
|---|---|
| Corporate | 71.7% |
| Money Market Instruments | 20.0% |
| Government | 3.2% |
| Securitized | 0.7% |
| Non-Corporate Credit | 0.1% |

### By country

Added up from the holdings JPMorgan publishes, as of 30/09/2026.

| Country | Weight |
|---|---|
| United States | 59.5% |
| Canada | 11.1% |
| United Kingdom | 4.7% |
| Netherlands | 3.9% |
| France | 3.4% |
| Japan | 3.3% |
| Australia | 3.0% |
| Sweden | 2.8% |
| Other countries | 8.3% |

### By type of asset

Added up from the holdings JPMorgan publishes, as of 30/09/2026.

| Type of asset | Weight |
|---|---|
| Bonds | 99.1% |
| Cash and money market | 0.6% |
| Derivatives | 0.0% |
| Other | 0.3% |

All 440 holdings: https://fundology.uk/fund/jpas/holdings

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Capital at risk. Past performance is not a guide to future returns. The value of investments can fall as well as rise.