# Product Snapshot - JPMorgan Funds - Diversified Risk Fund > Audience: country=gb, language=en, role=adv. > Generated: 2026-11-15T18:03:05.266342852Z. ## Identity - **Fund Name**: JPMorgan Funds - Diversified Risk Fund - **Share Class Name**: JPM Diversified Risk A (acc) - EUR (hedged) - **Product Page**: [Product Page](https://am.jpmorgan.com/gb/en/asset-management/adv/products/jpm-diversified-risk-a-acc-eur-hedged-lu0875415845) - **ISIN**: LU0875415845 - **Fund Type**: SICAV - **Asset Class**: Balanced ## OVERVIEW ### Investment objective To provide long-term capital growth by investing in multiple asset classes, globally, using a risk-weighted approach to asset allocation, using derivatives where appropriate. ### Registered countries - **Austria**: 23/07/2013 - **Cyprus**: 05/01/2026 - **Finland**: 26/04/2021 - **France**: 07/03/2018 - **Germany**: 10/02/2015 - **Greece**: 30/03/2021 - **Italy**: 19/04/2013 - **Jersey**: 07/03/2013 - **Luxembourg**: 28/02/2013 - **Portugal**: 13/03/2019 - **Spain**: 12/04/2013 - **Sweden**: 08/03/2013 - **Switzerland**: 09/05/2017 - **United Kingdom**: 30/03/2021 ## Fund facts - **Bloomberg**: JPDREAH LX - **Reuters**: LU0875415845.LUF - **ISIN**: LU0875415845 - **SEDOL**: B8BML74 - **Asset class**: Balanced - **Region**: Global - **Fund inception date**: 08/02/2013 - **Share class inception**: 11/04/2013 - **Fund currency**: USD - **Share class currency**: EUR - **ESG Approach**: ESG Integrated [Disclosure 1] ## Fund stats - **NAV As of 13/11/2026**: EUR 87.98 [Disclosure 2] - **NAV change As of 13/11/2026**: EUR 0.45 - **NAV change (%) As of 13/11/2026**: 0.51% - **12 Month NAV high As of 26/10/2026**: EUR 88.61 - **12 Month NAV low As of 29/05/2026**: EUR 81.71 - **Fund size As of 13/11/2026**: USD 134.12 Mn ## Fees ### Fees - **Initial charge**: 5.00% - **Redemption charge**: 0.00% - **Ongoing charge**: 1.55% - **Annual management fee (included in ongoing charge)**: 1.25% - **Operating & administrative expenses (included in ongoing charge)**: 0.30% ## Portfolio managers ### Yazann Romahi - **Biography**: [Biography](https://am.jpmorgan.com/gb/en/asset-management/adv/bios/yazann-romahi/) - **In the industry**: 27 YEARS - **With J.P. Morgan**: 23 YEARS - **Managing this fund**: 13 YEARS ### Victor Li - **Biography**: [Biography](https://am.jpmorgan.com/gb/en/asset-management/adv/bios/victor-li/) - **In the industry**: 16 YEARS - **With J.P. Morgan**: 16 YEARS - **Managing this fund**: 12 YEARS ### Albert Chuang - **Biography**: [Biography](https://am.jpmorgan.com/gb/en/asset-management/adv/bios/albert-chuang/) - **In the industry**: 16 YEARS - **With J.P. Morgan**: 16 YEARS - **Managing this fund**: 7 YEARS ### Kartik Aiyar - **Biography**: [Biography](https://am.jpmorgan.com/gb/en/asset-management/adv/bios/kartik-aiyar/) - **In the industry**: 13 YEARS - **With J.P. Morgan**: 13 YEARS - **Managing this fund**: 4 YEARS ## Performance ### Quarterly rolling 12 months _As of 30/09/2026_ | Return | 2021/2022 | 2022/2023 | 2023/2024 | 2024/2025 | 2025/2026 | | --- | ---: | ---: | ---: | ---: | ---: | | JPM A (acc) - EUR (hedged) | 9.20% | 7.16% | 7.60% | 0.00% | 5.30% | | Benchmark | -0.76% | 2.33% | 3.86% | 2.54% | 2.04% | | Excess return (geometric) | 10.03% | 4.72% | 3.60% | -2.48% | 3.19% | ### Calendar year _As of 31/10/2026_ | Return | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | YTD | | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | | JPM A (acc) - EUR (hedged) | 3.01% | 1.47% | -8.70% | 3.54% | -24.20% | 9.32% | 8.01% | 4.23% | 4.04% | 5.20% | 5.38% | | Benchmark | -0.84% | -0.82% | -0.71% | -0.71% | -0.72% | -0.77% | -0.33% | 3.11% | 3.75% | 2.19% | 1.77% | | Excess return (geometric) | 3.89% | 2.31% | -8.05% | 4.28% | -23.65% | 10.16% | 8.36% | 1.08% | 0.29% | 2.94% | 3.56% | ### Cumulative _As of 31/10/2026_ | Return | 1 MONTH | 3 MONTHS | 1 YEAR | 3 YEARS | 5 YEARS | 10 YEARS | | --- | ---: | ---: | ---: | ---: | ---: | ---: | | JPM A (acc) - EUR (hedged) | 1.45% | 2.96% | 8.12% | 13.26% | 37.61% | 4.97% | | Benchmark | 0.22% | 0.61% | 2.09% | 8.55% | 10.67% | 6.59% | | Excess return (geometric) | 1.24% | 2.34% | 5.91% | 4.34% | 24.35% | -1.52% | ### Annualised _As of 31/10/2026_ | Return | 3 YEARS | 5 YEARS | 10 YEARS | | --- | ---: | ---: | ---: | | JPM A (acc) - EUR (hedged) | 4.24% | 6.59% | 0.49% | | Benchmark | 2.77% | 2.05% | 0.64% | | Excess return (geometric) | 1.43% | 4.45% | -0.15% | [Disclosure 3] ## Portfolio ### Summary portfolio statistics _As of 30/09/2026_ - **Number of holdings**: 897 - **Ex-post beta (6 months)**: -0.4 - **Duration (years)**: -3.8 - **Yield % (Fixed income allocation)**: 1.6 - **Average credit quality**: BB- ## COMMENTARY **As of **: 30/09/2026 ### Month in review The fund delivered positive returns, with mixed performance across the underlying styles. Momentum was the only positive contributor to performance in September. Single-stock equity factors were positive in aggregate; gains were led primarily by equity momentum. Both equity value and equity quality detracted from performance. The macro momentum-based factors were additive in aggregate, with mixed performance across the underlying factors. Within the trend component, fixed income trend was a leading contributor to performance; September ended with duration at approximately -4.4 years. In contrast, commodities trend was down, as was equity trend, with the net long position hurting performance. FX momentum added value, driven by gains from our positions in the Japanese Yen and Swiss Franc. The carry style also detracted from performance in aggregate. Gains from the commodity carry factor were more than offset by losses from the credit and foreign exchange (FX) factors. FX carry detracted, driven by our exposures in the Australian Dollar and British Pound. Likewise, the fixed income relative value factors were negative in aggregate, driven by the value factor, where our exposures to the UK and New Zealand hurt performance. In momentum, gains from the Danish 10-year swaps were neutralised by losses from the UK 10-year swap. Similarly, carry was flat as broad-based gains were negated by the Canadian 10-year swap. ### Looking ahead Single-stock equity factors delivered positive performance in Q3 2026. Momentum reversed and detracted after strong gains in prior quarters, while value and quality generated robust returns. Value stocks remain attractively priced relative to history, although AI-driven growth leadership continues to challenge the case for a traditional value rebound. Quality also remains appealing, supported by the significant gap in profitability and fundamentals between high- and low-quality companies. Trend momentum factors retain a pro-risk tilt. They started strongly as equity and commodity trends, particularly gold and silver, carried over from 2025, but reversed sharply following the onset of the Iran war. By month-end, the portfolio's net equity exposure was 11.4%, fixed income duration was -4.4 years and commodity exposure had increased from the previous month. Carry factor performance has been strong in 2026, led by commodity and FX carry. While our overall outlook remains neutral and weaker than last quarter, FX carry spreads continued to widen, rising from 2.9% at the start of the year to 3.1% by the end of Q2, above the post-GFC average of 2.5%. Fixed income carry spreads remained tight, ending the quarter one standard deviation below their long-term average. Although asset class volatility may be a short-term headwind, we believe carry remains supportive and therefore retain a modestly positive view on the factor overall. ## Documents - [Factsheet](https://jp.techrules.com/rebrandingPDF/LoadPdf.aspx?ShareClassId=11099&country=GB&lang=EN¶mMIFID=YES) - [JPMorgan Funds - Diversified Risk Fund EUR - Commentary (A Acc share class)](https://am.jpmorgan.com/content/dam/jpm-am-aem/emea/regional/en/literature/commentary/jpm-diversified-risk-fund-commentary-eur-ce-en.pdf) - [Key Investor Information Document](https://wl.fundsquare.net/serv/down-doc/request?cdClient=jpmorgan&isin=LU0875415845&docTypeCode=KIID&docLang=EN&docCountry=GB) - [JPMorgan Funds - Prospectus](https://am.jpmorgan.com/content/dam/jpm-am-aem/emea/regional/en/regulatory/prospectus/jpmorgan-funds-prospectus-ce-en.pdf) - [JPMorgan Funds - Annual Report](https://am.jpmorgan.com/content/dam/jpm-am-aem/emea/regional/en/regulatory/annual-report/jpmorgan-funds-annual-report-ce-en.pdf) - [JPMorgan Funds - Semi-Annual Report ](https://am.jpmorgan.com/content/dam/jpm-am-aem/emea/regional/en/regulatory/semi-annual-report/jpmorgan-funds-semi-annual-report-ce-en.pdf) ## Disclosures 1. ESG Integration is the systematic inclusion of financially material ESG factors, alongside other relevant factors, in investment analysis and investment decisions with the goals of managing risk and improving long-term returns. ESG integration does not by itself change this product's investment objective, exclude specific types of companies or constrain its investable universe. This product is not designed for investors who are looking for a product that meets specific ESG goals or wish to screen out particular types of companies or investments, other than those required by any applicable law such as companies involved in the manufacture, production or supply of cluster munitions. ESG integration does not imply that the Fund is marketed or authorised as an ESG product in any jurisdiction where such authorisation is required. 2. Net Asset Value of a fund’s assets less its liabilities per Share. 3. Past performance is not a guide to current and future performance. The value of your investments and any income from them may fall as well as rise and you may not get back the full amount you invested. Source: J.P. Morgan Asset Management. Share class performance is shown based on the NAV (net asset value) of the share class with income (gross) reinvested including actual ongoing charges excluding any entry and exit fees. The return of your investment may change as a result of currency fluctuations if your investment is made in a currency other than that used in the past performance calculation. Indices do not include fees or operating expenses and you cannot invest in them. The benchmark is for comparative purposes only unless specifically referenced in the Sub-Funds' Investment Objective and Policy.