# USD High Yield Bond Active UCITS ETF AccumUnhedged USD (JPYH)

**Page:** https://fundology.uk/fund/jpyh · ISIN IE000LZI2UH4

## 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, JPYH (USD High Yield Bond Active UCITS ETF AccumUnhedged USD, ISIN IE000LZI2UH4) closed at £8.32 on the London Stock Exchange. Its ongoing charge is 0.45% a year (about £45 on £10,000). Over the year to 13/11/2026 its total return was +1.6%, or −2.0% after UK CPIH inflation.

## Summary

USD High Yield Bond Active UCITS ETF AccumUnhedged USD is an exchange-traded fund (ETF) from JPMorgan, launched in 2024. 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 0.45% a year — about £45 a year on every £10,000 invested, taken from the fund's value rather than billed to you. Income from its investments is paid out to holders as cash, usually a few times a year.

Latest close: **£8.32** (13/11/2026).

## Key facts

| Fact | Value |
|---|---|
| Ticker (LSE) | JPYH |
| ISIN | IE000LZI2UH4 |
| Also listed as | JPHY (London Stock Exchange, US dollars), JPUA (Xetra, euros) |
| Category | Corporate & other bonds |
| Type | ETF |
| Provider | JPMorgan |
| Income | Distributing |
| Ongoing charge | 0.45% a year (£45 per £10,000) |
| Fund size | £285m |
| Launched | 2024 |
| Domicile | Ireland |
| UK reporting fund status | Yes — on HMRC’s list of reporting funds (list of 02/11/2026); reporting fund since 29/11/2024 |

## 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 | +1.60% | -2.00% | income reinvested |

Returns: as reported (delayed data). Inflation: UK CPIH, latest month published.

## Calendar-year returns

Calendar-year returns of USD High Yield Bond Active UCITS ETF AccumUnhedged USD in pounds (price only, income paid out not included): 2025 +0.2%; 2026 to 13/11/2026 +3.3%. Returns of USD High Yield Bond Active UCITS ETF AccumUnhedged USD in pounds (price only, income paid out not included) over the 12 months to 30/09/2026: +3.6%.

| Year | Return | After CPIH inflation | Measured as |
|---|---|---|---|
| 2025 | +0.2% | -3.2% | Price |
| 2026 to 13/11/2026 | +3.3% | +0.0% | Price |

## Risk metrics

| Window | Volatility | Max drawdown |
|---|---|---|
| 1 year | 5.25% | -2.98% |

## Largest fall

Volatility of USD High Yield Bond Active UCITS ETF AccumUnhedged USD in pounds, annualised from weekly returns to 13/11/2026: 5.3% over 1 year. Largest fall in the price of USD High Yield Bond Active UCITS ETF AccumUnhedged USD since December 2024, in pounds: −8.9% from 17/01/2025 to 11/04/2025. On 13/11/2026 the price of USD High Yield Bond Active UCITS ETF AccumUnhedged USD was 0.9% below its highest weekly close since December 2024 (26/06/2026), in pounds.

## Charges compared with similar funds

Ongoing charge of USD High Yield Bond Active UCITS ETF AccumUnhedged USD 0.45% a year. Compared on 14/11/2026, 73 of the 427 other corporate and other bond funds charge more, 10 the same and 344 less (share classes counted once).

## Charges & eligibility

- Ongoing charges figure (OCF): **0.45%** per year (as of 13/11/2026)
- 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, JPYH holds 529 positions, according to its published holdings. The largest is Cash and Cash Equivalent at 4.40% of the fund; the ten largest make up 12.0%.

### Top holdings

Largest positions (as of 13/11/2026), as a percentage of the whole fund:

| # | Holding | Ticker | Weight |
|---|---|---|---|
| 1 | Cash and Cash Equivalent | — | 4.40% |
| 2 | Cco Hldgs Llc/C 4.75% 03/01/30 | — | 1.30% |
| 3 | Cco Hldgs Llc/Ca 4.5% 08/15/30 | — | 1.00% |
| 4 | Cco Hldgs Llc/C 4.25% 02/01/31 | — | 0.84% |
| 5 | Emrld Bor / EM 6.625% 12/15/30 | — | 0.84% |
| 6 | Entegris Inc 5.95% 06/15/30 | — | 0.79% |
| 7 | Sirius Xm Radio Ll 4% 07/15/28 | — | 0.74% |
| 8 | 1261229 Bc Ltd 10% 04/15/32 | — | 0.70% |
| 9 | Nexstar Media in 6.5% 09/15/33 | — | 0.69% |
| 10 | Vistra Operatio 7.75% 10/15/31 | — | 0.69% |

## 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 06/11/2026.

| Sector | Weight |
|---|---|
| Consumer Cyclicals | 18.6% |
| Communication Services | 16.5% |
| Capital Goods | 13.5% |
| Energy | 12.1% |
| Consumer Non-Cyclicals | 11.9% |
| Information Technology | 9.6% |
| Basic Industry | 4.7% |
| Utilities | 3.0% |
| Other sectors | 6.6% |

### By country

Added up from the fund’s published holdings, as of 06/11/2026.

| Country | Weight |
|---|---|
| United States | 93.9% |
| Canada | 3.0% |
| France | 0.7% |
| United Kingdom | 0.5% |
| Luxembourg | 0.4% |
| Jersey | 0.4% |
| Australia | 0.3% |
| Germany | 0.2% |
| Other countries | 0.6% |

### By type of asset

Added up from the fund’s published holdings, as of 06/11/2026.

| Type of asset | Weight |
|---|---|
| Bonds | 95.4% |
| Cash and money market | 4.6% |

The 524 holdings on record (of 529 reported): https://fundology.uk/fund/jpyh/holdings

## Questions people ask

**What is the ongoing charge of JPYH?**

The ongoing charge of JPYH is 0.45% a year — about £45 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 USD High Yield Bond Active UCITS ETF AccumUnhedged USD 0.45% a year. Compared on 14/11/2026, 73 of the 427 other corporate and other bond funds charge more, 10 the same and 344 less (share classes counted once).

**Is JPYH accumulating or distributing?**

JPYH is distributing: income is paid out to holders as cash, usually a few times a year. It pays out semi-annual.

**What is the ISIN of JPYH?**

The ISIN of JPYH is IE000LZI2UH4. An ISIN identifies one exact share class of a fund; JPYH is its ticker on the London Stock Exchange. The same share class is also listed as JPHY (London Stock Exchange, US dollars) and JPUA (Xetra, euros).

**What does JPYH hold?**

As of 13/11/2026, JPYH holds 529 positions, according to its published holdings. The largest is Cash and Cash Equivalent at 4.40% of the fund; the ten largest make up 12.0%. Its ten largest holdings are Cash and Cash Equivalent (4.40%), Cco Hldgs Llc/C 4.75% 03/01/30 (1.30%), Cco Hldgs Llc/Ca 4.5% 08/15/30 (1.00%), Cco Hldgs Llc/C 4.25% 02/01/31 (0.84%), Emrld Bor / EM 6.625% 12/15/30 (0.84%), Entegris Inc 5.95% 06/15/30 (0.79%), Sirius Xm Radio Ll 4% 07/15/28 (0.74%), 1261229 Bc Ltd 10% 04/15/32 (0.70%), Nexstar Media in 6.5% 09/15/33 (0.69%) and Vistra Operatio 7.75% 10/15/31 (0.69%).

**What were JPYH’s returns in each of the last five years?**

Calendar-year returns of JPYH in pounds (price only, income paid out not included): 2025 +0.2%; 2026 to 13/11/2026 +3.3%. Past performance is not a guide to future returns.

**How has JPYH done after inflation?**

Over the year to 13/11/2026 JPYH’s total return was +1.6%, or −2.0% 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-usd-high-yield-bond-active-ucits-etf-usd-acc-ie000lzi2uh4)
- [Key investor information document (KIID)](https://wl.fundsquare.net/serv/down-doc/request?cdClient=jpmorgan&isin=IE000LZI2UH4&docTypeCode=KIID&docLang=EN&docCountry=GB)
- Links checked 12/10/2026.

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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.