# Product Snapshot - JPMorgan ETFs (Ireland) ICAV - US Research Enhanced Index Equity SRI Paris Aligned Active UCITS ETF > Audience: country=gb, language=en, role=adv. > Generated: 2026-11-08T00:17:10.442323766Z. ## Identity - **Fund Name**: JPMorgan ETFs (Ireland) ICAV - US Research Enhanced Index Equity SRI Paris Aligned Active UCITS ETF - **Share Class Name**: JPM US Research Enhanced Index Equity SRI Paris Aligned Active UCITS ETF - USD (acc) - **Product Page**: [Product Page](https://am.jpmorgan.com/gb/en/asset-management/adv/products/jpm-us-research-enhanced-index-equity-sri-paris-aligned-active-ucits-etf-usd-acc-ie00069jgt58) - **Ticker Symbol**: JSEU - **ISIN**: IE00069JGT58 - **Fund Type**: ETF - **Asset Class**: Equity ## Overview ### Investment objective The objective of the Sub-Fund is to achieve a long-term return in excess of MSCI USA SRI EU PAB Overlay ESG Custom Index\* ("the Benchmark") by actively investing primarily in a portfolio of US companies while aligning with the objectives of the Paris Agreement. ### Registered countries - **Austria**: 06/07/2023 - **Croatia**: 06/07/2023 - **Cyprus**: 18/06/2024 - **Czech Republic**: 18/06/2024 - **Denmark**: 06/07/2023 - **Finland**: 06/07/2023 - **France**: 06/07/2023 - **Germany**: 06/07/2023 - **Greece**: 18/06/2024 - **Hungary**: 18/06/2024 - **Iceland**: 29/11/2024 - **Ireland**: 15/06/2023 - **Italy**: 16/08/2023 - **Liechtenstein**: 06/07/2023 - **Luxembourg**: 06/07/2023 - **Netherlands**: 06/07/2023 - **Norway**: 06/07/2023 - **Poland**: 18/06/2024 - **Portugal**: 06/07/2023 - **Slovakia**: 18/06/2024 - **Spain**: 06/07/2023 - **Sweden**: 06/07/2023 - **Switzerland**: 04/08/2023 - **United Kingdom**: 14/07/2023 ## Fund facts - **Ticker**: JSEU - **ISIN**: IE00069JGT58 - **Asset class**: Equity - **Region**: America - **Fund inception date**: 09/08/2023 - **Share class inception**: 09/08/2023 - **Domicile**: Ireland - **Fund currency**: USD - **Share class currency**: USD - **ESG Approach**: Best-in-Class [Disclosure 1] - **SFDR Classification**: Article 9 [Disclosure 2] ## Fund stats - **NAV As of 06/11/2026**: USD 41.6512 [Disclosure 3] - **NAV change As of 06/11/2026**: USD 0.1456 - **NAV change (%) As of 06/11/2026**: 0.35% - **Fund size As of 06/11/2026**: USD 620.76 Mn - **Shares outstanding As of 06/11/2026**: 11,710,062 - **Number of Holdings**: 161 - **Fiscal year end**: 31 December - **UK reporting status**: Yes - **Securities lending**: No ## Fees & Charges ### Fees - **Ongoing charge**: 0.20% ## Portfolio managers ### Raffaele Zingone - **Biography**: [Biography](https://am.jpmorgan.com/gb/en/asset-management/adv/bios/raffaele-zingone/) - **In the industry**: 35 YEARS - **With J.P. Morgan**: 35 YEARS - **Managing this fund**: 3 YEARS ### Piera Elisa Grassi - **Biography**: [Biography](https://am.jpmorgan.com/gb/en/asset-management/adv/bios/piera-elisa-grassi/) - **In the industry**: 26 YEARS - **With J.P. Morgan**: 22 YEARS - **Managing this fund**: 3 YEARS ### Timothy Snyder - **In the industry**: 23 YEARS - **With J.P. Morgan**: 23 YEARS - **Managing this fund**: Less than one year ## Ratings ### Morningstar Medalist Rating - **Morningstar Medalist Rating™**: Silver - **As of **: 30/09/2026 - **Analyst-Driven %: **: 10 - **Data Coverage %: **: 81 ## Performance ### Quarterly rolling 12 months _As of 30/09/2026_ | Return | 2021/2022 | 2022/2023 | 2023/2024 | 2024/2025 | 2025/2026 | | --- | ---: | ---: | ---: | ---: | ---: | | JPM - USD (acc) | - | - | 37.53% | 14.67% | 13.82% | | Benchmark - USD | - | - | 35.61% | 14.17% | 13.96% | | Excess return (geometric) | - | - | 1.42% | 0.44% | -0.13% | ### Calendar year _As of 31/10/2026_ | Return | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | YTD | | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | | JPM - USD (acc) | - | - | - | - | - | - | - | - | 22.98% | 15.20% | 10.09% | | Benchmark - USD | - | - | - | - | - | - | - | - | 21.70% | 14.82% | 10.19% | | Excess return (geometric) | - | - | - | - | - | - | - | - | 1.05% | 0.33% | -0.09% | ### Cumulative _As of 31/10/2026_ | Return | 1 MONTH | 3 MONTHS | 1 YEAR | 3 YEARS | 5 YEARS | SINCE INCEPTION | | --- | ---: | ---: | ---: | ---: | ---: | ---: | | JPM - USD (acc) | -0.67% | 1.47% | 10.24% | 83.83% | - | 70.81% | | Benchmark - USD | -0.70% | 1.48% | 10.11% | 80.75% | - | 67.80% | | Excess return (geometric) | 0.03% | -0.02% | 0.12% | 1.70% | - | 1.79% | ### Annualised _As of 31/10/2026_ | Return | 3 YEARS | 5 YEARS | SINCE INCEPTION | | --- | ---: | ---: | ---: | | JPM - USD (acc) | 22.50% | - | 18.04% | | Benchmark - USD | 21.81% | - | 17.39% | | Excess return (geometric) | 0.56% | - | 0.55% | [Disclosure 4] ## Portfolio ### Sector breakdown _As of 30/09/2026_ | Sector | Fund | Benchmark | Deviation | | --- | ---: | ---: | ---: | | Hardware & Semiconductors | 33.1% | 33.3% | -0.2% | | Media | 13.2% | 13.1% | 0.1% | | Pharm/MedTech | 13.1% | 13.2% | -0.1% | | Software & Services | 11.8% | 11.7% | 0.1% | | REITs | 7.3% | 7.3% | 0.0% | | Financial Services | 6.2% | 6.2% | 0.0% | | Banks & Brokers | 5.3% | 5.1% | 0.2% | | Industrial Cyclicals | 3.7% | 3.7% | 0.0% | | Insurance | 2.8% | 2.7% | 0.1% | | Consumer Cyclicals | 0.9% | 1.0% | -0.1% | | Telecommunications | 0.7% | 0.8% | -0.1% | | Retail | 0.7% | 0.8% | -0.1% | | Utilities | 0.5% | 0.6% | -0.1% | | Consumer Staples | 0.4% | 0.5% | -0.1% | | Health Services & Systems | 0.0% | 0.1% | -0.1% | | Cash | 0.2% | 0.0% | 0.2% | | Total | 99.9% | 100.1% | -0.2% | ## Commentary **As of **: 30/09/2026 ### Month in review The fund generated a positive return and outperformed its benchmark during the third quarter of 2026. Our stock selection in the REITs, hardware & semiconductors and financial services sectors contributed to performance. Within software & services, our underweight position in IBM, a global technology company providing hybrid cloud, AI, consulting and infrastructure solutions, proved beneficial. The stock suffered its sharpest single-day decline in decades after a negative earnings pre-announcement revealed that clients had reprioritised capital spending toward servers, storage and memory amid rising component costs, causing large enterprise deals to slip and mainframe and transaction processing revenue to miss expectations, prompting management to lower full-year growth guidance. Our stock selection in the insurance and retail sectors, as well as sector allocation to health services and systems, detracted from performance. Within insurance, our overweight position in Aon (AON), a global insurance brokerage and risk‑advisory firm, detracted from performance during the quarter. Second-quarter 2026 results did not benefit from mergers and acquisitions activity to the same extent as in recent periods. Sentiment was also affected by late-August leadership changes, including the CFO’s resignation and the appointment of an interim successor, as well as the proposed acquisition of USI Insurance Services (USI), which increased uncertainty around integration and financing. The shares weakened amid concerns over a potential equity issuance, while subsequent discussions suggested that integrating USI could be more expensive than Aon’s earlier integration of National Financial Partners (NFP). ### Looking ahead We continue to focus on fundamentals of the economy and company earnings. Our analysts’ estimates for S&P 500 Index® earnings project +27% for 2026 and +23% for 2027. The US equity market outlook remains constructive but more balanced amid higher term premiums, geopolitical uncertainty and uneven market breadth. Continued AI-related investment and earnings resilience support equities, while rapid moves in discount rates, higher refined-product costs and seasonal shifts in liquidity may create further volatility. These conditions reinforce the case for active stock selection. We remain focused on high-conviction stocks and seek to take advantage of market dislocations that create compelling stock selection opportunities. ## Documents - [Factsheet](https://jp.techrules.com/rebrandingPDF/LoadPdf.aspx?ShareClassId=15203&country=GB&lang=EN¶mMIFID=YES) - [US Research Enhanced Index Equity SRI Paris Aligned Active UCITS ETF Fund Commentary](https://am.jpmorgan.com/content/dam/jpm-am-aem/emea/regional/en/literature/commentary/jpm-us-research-enhanced-index-equity-sri-paris-aligned-etf-commentary-ce-en.pdf) - [Key Investor Information Document](https://wl.fundsquare.net/serv/down-doc/request?cdClient=jpmorgan&isin=IE00069JGT58&docTypeCode=KIID&docLang=EN&docCountry=GB) - [JPMorgan ETFs (Ireland) ICAV – Supplement for UK Investors](https://www.pl.jpmam.avanterra.com/Supplement%20for%20UK%20Investors/JPMorgan%20ETFs%20-%20(Ireland%29%20-%20ICAV.pdf) - [JPMorgan ETFs (Ireland) ICAV - Prospectus](https://am.jpmorgan.com/content/dam/jpm-am-aem/emea/regional/en/regulatory/prospectus/jpm-icav-etf-prospectus-ce-en.pdf) - [JPMorgan ETFs (Ireland) ICAV - Annual report](https://am.jpmorgan.com/content/dam/jpm-am-aem/emea/regional/en/regulatory/annual-report/jpm-icav-etf-annual-report-ce-en.pdf) - [JPMorgan ETFs (Ireland) ICAV - Semi-annual report ](https://am.jpmorgan.com/content/dam/jpm-am-aem/emea/regional/en/regulatory/semi-annual-report/jpmorgan-etfs-icav-semi-annual-report-ce-en.pdf) - [Supplement US Research Enhanced Index Equity SRI Paris Aligned Active UCITS ETF (English)](https://am.jpmorgan.com/content/dam/jpm-am-aem/emea/regional/en/regulatory/etf-supplement/jpmorgan-icav-us-rei-sri-pa-supplement-ce-en.pdf) ## Disclosures 1. An investment style that focuses on companies / issuers that lead their peer groups in respect of sustainability performance. 2. "Article 8” strategies promote social and/or environmental characteristics, but do not have sustainable investing as a core objective. “Article 9” strategies have a sustainable investment objective. 3. Net Asset Value of a fund’s assets less its liabilities per Share. 4. 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. Performance is shown based on the NAV which may not be the same as the market price of the ETF. Individual shareholders may realise returns that are different to the NAV based returns. 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. Investors should note that the benchmark data presented is expressed in the fund's base currency, which may be different from the currency in which the share class performance data is presented. Investors should exercise caution when comparing the benchmark data with share class performance data that are in different currencies, as currency fluctuations can contribute to differences in performance outcomes. The benchmark is for comparative purposes only unless specifically referenced in the Sub-Funds' Investment Objective and Policy.