# India Research Enhanced Index Equity Active UCITS ETF AccumUnhedged USD (JRNI)

**Page:** https://fundology.uk/fund/jrni · ISIN IE000ZAJ6XQ2

## 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, JRNI (India Research Enhanced Index Equity Active UCITS ETF AccumUnhedged USD, ISIN IE000ZAJ6XQ2) closed at £17.77 on the London Stock Exchange. Its ongoing charge is 0.40% a year (about £40 on £10,000). Over the year to 13/11/2026 its total return was −3.8%, or −7.2% after UK CPIH inflation.

## Summary

India Research Enhanced Index Equity Active UCITS ETF AccumUnhedged USD 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 0.4% a year — about £40 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.

Latest close: **£17.77** (13/11/2026).

## Key facts

| Fact | Value |
|---|---|
| Ticker (LSE) | JRNI |
| ISIN | IE000ZAJ6XQ2 |
| Also listed as | JRIN (London Stock Exchange, US dollars) |
| Category | Emerging markets |
| Type | ETF |
| Provider | JPMorgan |
| Income | Accumulating |
| Ongoing charge | 0.40% a year (£40 per £10,000) |
| Fund size | £87.1m |
| Launched | 2025 |
| Domicile | Ireland |
| UK reporting fund status | Yes — on HMRC’s list of reporting funds (list of 02/11/2026); reporting fund since 29/07/2025 |

## 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 | -3.76% | -7.17% | income reinvested |

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

## Calendar-year returns

Calendar-year returns of India Research Enhanced Index Equity Active UCITS ETF AccumUnhedged USD in pounds (price, with income reinvested in the fund): 2026 to 13/11/2026 −5.2%. Returns of India Research Enhanced Index Equity Active UCITS ETF AccumUnhedged USD in pounds (price, with income reinvested in the fund) over the 12 months to 30/09/2026: −11.8%.

| Year | Return | After CPIH inflation | Measured as |
|---|---|---|---|
| 2026 to 13/11/2026 | -5.2% | -8.2% | Price |

## Risk metrics

| Window | Volatility | Max drawdown |
|---|---|---|
| 1 year | 18.37% | -17.75% |

## Largest fall

Volatility of India Research Enhanced Index Equity Active UCITS ETF AccumUnhedged USD in pounds, annualised from weekly returns to 13/11/2026: 18.4% over 1 year. Largest fall in the price of India Research Enhanced Index Equity Active UCITS ETF AccumUnhedged USD since August 2025, in pounds: −17.7% from 14/11/2025 to 27/03/2026. On 13/11/2026 the price of India Research Enhanced Index Equity Active UCITS ETF AccumUnhedged USD was 7.2% below its highest weekly close since August 2025 (14/11/2025), in pounds.

## Charges compared with similar funds

Ongoing charge of India Research Enhanced Index Equity Active UCITS ETF AccumUnhedged USD 0.40% a year. Compared on 14/11/2026, 70 of the 151 other emerging-market share funds charge more, 6 the same and 75 less (share classes counted once).

## Charges & eligibility

- Ongoing charges figure (OCF): **0.40%** per year (as of 13/10/2026)
- 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, JRNI holds 145 positions, according to its published holdings. The largest is HDFC Bank at 6.64% of the fund; the ten largest make up 38.2%.

### Top holdings

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

| # | Holding | Ticker | Weight |
|---|---|---|---|
| 1 | HDFC Bank | [HDFCBANK](https://fundology.uk/stock/HDFCBANK) | 6.64% |
| 2 | ICICI Bank | [ICICIBANK](https://fundology.uk/stock/ICICIBANK) | 6.54% |
| 3 | Reliance Industries | [RELIANCE](https://fundology.uk/stock/RELIANCE) | 6.10% |
| 4 | Bharti Airtel | [BHARTIARTL](https://fundology.uk/stock/BHARTIARTL) | 4.61% |
| 5 | Infosys | [INFY](https://fundology.uk/stock/INFY) | 2.74% |
| 6 | Axis Bank | [AXISBANK](https://fundology.uk/stock/AXISBANK) | 2.60% |
| 7 | Bajaj Finance | [BAJFINANCE](https://fundology.uk/stock/BAJFINANCE) | 2.53% |
| 8 | Mahindra & Mahindra | [M&M](https://fundology.uk/stock/M%26M) | 2.49% |
| 9 | Kotak Mahindra Bank | [KOTAKBANK](https://fundology.uk/stock/KOTAKBANK) | 2.28% |
| 10 | Tata Consultancy Services | [TCS](https://fundology.uk/stock/TCS) | 1.68% |

## 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 |
|---|---|
| Financials | 30.8% |
| Consumer Discretionary | 12.5% |
| Industrials | 9.6% |
| Materials | 8.3% |
| Energy | 8.1% |
| Health Care | 8.0% |
| Information Technology | 8.0% |
| Communication Services | 5.5% |
| Other sectors | 8.6% |

### By country

Added up from the fund’s published holdings, as of 13/11/2026.

| Country | Weight |
|---|---|
| India | 99.1% |
| United States | 0.8% |
| Bermuda | 0.1% |
| Not classified | 0.1% |

### By type of asset

Added up from the fund’s published holdings, as of 13/11/2026.

| Type of asset | Weight |
|---|---|
| Equity | 99.4% |
| Cash and money market | 0.6% |

All 145 holdings: https://fundology.uk/fund/jrni/holdings

## Questions people ask

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

The ongoing charge of JRNI is 0.40% a year — about £40 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 India Research Enhanced Index Equity Active UCITS ETF AccumUnhedged USD 0.40% a year. Compared on 14/11/2026, 70 of the 151 other emerging-market share funds charge more, 6 the same and 75 less (share classes counted once).

**Is JRNI accumulating or distributing?**

JRNI 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 JRNI?**

The ISIN of JRNI is IE000ZAJ6XQ2. An ISIN identifies one exact share class of a fund; JRNI is its ticker on the London Stock Exchange. The same share class is also listed as JRIN (London Stock Exchange, US dollars).

**What does JRNI hold?**

As of 13/11/2026, JRNI holds 145 positions, according to its published holdings. The largest is HDFC Bank at 6.64% of the fund; the ten largest make up 38.2%. Its ten largest holdings are HDFC Bank (6.64%), ICICI Bank (6.54%), Reliance Industries (6.10%), Bharti Airtel (4.61%), Infosys (2.74%), Axis Bank (2.60%), Bajaj Finance (2.53%), Mahindra & Mahindra (2.49%), Kotak Mahindra Bank (2.28%) and Tata Consultancy Services (1.68%).

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

Calendar-year returns of JRNI in pounds (price, with income reinvested in the fund): 2026 to 13/11/2026 −5.2%. Past performance is not a guide to future returns.

**How has JRNI done after inflation?**

Over the year to 13/11/2026 JRNI’s total return was −3.8%, or −7.2% 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-india-research-enhanced-index-equity-active-ucits-etf-usd-acc-ie000zaj6xq2)
- [Key investor information document (KIID)](https://wl.fundsquare.net/serv/down-doc/request?cdClient=jpmorgan&isin=IE000ZAJ6XQ2&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.