How the Largest Active ETFs in the UK Performed

Each month, we check in on the performance of the largest Europe-domiciled active exchange-traded funds available for sale in UK.

While passive ETFs have portfolios where holdings are designed to track the performance of an index, active ETFs are managed by portfolio managers who make the decisions about which investments to own. Like index-tracking ETFs, active ETFs trade on an exchange and are typically lower-cost than traditional actively managed mutual funds.

When evaluating ETFs, investors should focus on long-term returns across multiple years and market cycles. However, short-term returns can provide valuable information about biases within strategies.

Out of the 10 largest Europe-domiciled active ETFs, the top performer last month was the £2.5 billion Invesco Global Active ESG Equity UCITS ETF IQSA, which gained 4.00%. The bottom performer was the £3.3 billion Fidelity Emerging Markets Equity Research Enhanced UCITS ETF FEMR, which lost 0.58%.

Here’s more about the performance of the largest active ETFs.

JPMorgan ETFs (Ireland) ICAV - US Research Enhanced Index Equity Active UCITS ETF JREU

• Morningstar Medalist Rating
  : Silver
• Morningstar Category
  : US Large-Cap Blend Equity

In June, the JPMorgan ETFs (Ireland) ICAV - US Research Enhanced Index Equity Active UCITS ETF rose 0.41%, while the average US large-cap blend equity fund gained 0.88%. The fund placed in the 62nd percentile for performance and lagged its benchmark, the S&P 500 Index, by 0.15 percentage points.

The £11.4 billion fund has climbed 24.69% over the past 12 months, performing roughly in line with the average fund in its category, which rose 23.60%. The JPMorgan fund, which launched in October 2018, has climbed 18.04% over the past three years annualized and gained 13.89% annualized over the past five years.

JPMorgan ETFs (Ireland) ICAV - Global Research Enhanced Index Equity Active UCITS ETF JREG

• Morningstar Medalist Rating
  : Gold
• Morningstar Category
  : Global Large-Cap Blend Equity

In June, the JPMorgan ETFs (Ireland) ICAV - Global Research Enhanced Index Equity Active UCITS ETF rose 0.90%, while the average global large-cap blend equity fund gained 0.71%. The fund placed in the 41st percentile for performance and lagged its benchmark, the MSCI World Index, by 4.49 percentage points.

The £7.6 billion fund has climbed 24.59% over the past 12 months, outperforming the average fund in its category, which rose 21.38%. The JPMorgan fund, which launched in October 2018, has climbed 17.05% over the past three years annualized and gained 12.70% annualized over the past five years.

Fidelity Emerging Markets Equity Research Enhanced UCITS ETF FEMR

• Morningstar Medalist Rating
  : Neutral
• Morningstar Category
  : Global Emerging Markets Equity

The £3.3 billion Fidelity Emerging Markets Equity Research Enhanced UCITS ETF fell 0.58% in June. The loss on the fund was worse than the 0.21% gain on the average fund in the global emerging markets equity category, leaving it in the 77th percentile for performance. The fund lagged its benchmark, the MSCI EM Index, by 0.71 percentage points.

Over the past 12 months, the Fidelity International fund rose 48.29%, while the average fund in its category rose 46.96%. The fund, which launched in November 2020, has climbed 20.03% over the past three years annualized and gained 6.75% annualized over the past five years.

JPMorgan ETFs (Ireland) ICAV - JPM Nasdaq Equity Premium Income Active UCITS ETF JEQA

• Morningstar Medalist Rating
  : Silver
• Morningstar Category
  : US Equity Income

The £2.7 billion JPMorgan ETFs (Ireland) ICAV - JPM Nasdaq Equity Premium Income Active UCITS ETF rose 3.31% in June. The gain on the fund beat the 2.69% gain on the average fund in the US equity income category, leaving it in the 43rd percentile for performance. The fund beat its benchmark, the NASDAQ 100 Index, by 1.87 percentage points.

Over the past 12 months, the JPMorgan fund rose 29.92%, while the average fund in its category rose 21.03%. The fund was launched in October 2024.

JPMorgan ETFs (Ireland) ICAV - Europe Research Enhanced Index Equity Active UCITS ETF JREE

• Morningstar Medalist Rating
  : Gold
• Morningstar Category
  : Europe Large-Cap Blend Equity

In June, the JPMorgan ETFs (Ireland) ICAV - Europe Research Enhanced Index Equity Active UCITS ETF rose 3.39%, while the average Europe large-cap blend equity fund gained 2.10%. The fund placed in the 15th percentile for performance and performed roughly in line with its benchmark, the MSCI Europe Index.

The £2.5 billion fund has climbed 23.87% over the past 12 months, outperforming the average fund in its category, which rose 18.41%. The JPMorgan fund, which launched in October 2018, has climbed 14.29% over the past three years annualized and gained 10.78% annualized over the past five years.

Invesco Global Active ESG Equity UCITS ETF IQSA

• Morningstar Medalist Rating
  : Silver
• Morningstar Category
  : Global Large-Cap Blend Equity

In June, the Invesco Global Active ESG Equity UCITS ETF rose 4.00%, while the average global large-cap blend equity fund gained 0.71%. The fund placed in the fourth percentile for performance and lagged its benchmark, the MSCI World Index, by 1.40 percentage points.

The £2.5 billion fund has climbed 34.29% over the past 12 months, outperforming the average fund in its category, which rose 21.38%. The Invesco fund, which launched in July 2019, has climbed 22.09% over the past three years annualized and gained 15.70% annualized over the past five years.

PIMCO ETFs PLC - US Dollar Short Maturity UCITS ETF MINT

• Morningstar Medalist Rating
  : Gold
• Morningstar Category
  : USD Ultra Short-Term Bond

The PIMCO ETFs PLC - US Dollar Short Maturity UCITS ETF gained 1.93% in June, outperforming the average fund in the USD ultra short-term bond category, which rose 1.76%. The fund placed in the sixth percentile for performance and performed roughly in line with its benchmark, the FTSE Treasury Bill 3 Month Index.

The £2 billion fund has gained 7.96% over the past 12 months, while the average fund in its category is up 7.21%. The PIMCO fund, which launched in February 2011, has climbed 3.74% over the past three years annualized and gained 4.27% annualized over the past five years.

JPMorgan ETFs (Ireland) ICAV - Global Emerging Markets Research Enhanced Index Equity ActiveUCITSETF JREM

• Morningstar Medalist Rating
  : Silver
• Morningstar Category
  : Global Emerging Markets Equity

In June, the JPMorgan ETFs (Ireland) ICAV - Global Emerging Markets Research Enhanced Index Equity ActiveUCITSETF rose 0.23%, while the average global emerging markets equity fund gained 0.21%. The fund placed in the 50th percentile for performance and beat its benchmark, the MSCI EM Index, by 0.11 percentage points.

The £1.8 billion fund has climbed 53.06% over the past 12 months, outperforming the average fund in its category, which rose 46.96%. The JPMorgan fund, which launched in December 2018, has climbed 21.76% over the past three years annualized and gained 7.96% annualized over the past five years.

iShares World Equity Enhanced Active UCITS ETF WOEE

• Morningstar Medalist Rating
  : None
• Morningstar Category
  : Global Large-Cap Blend Equity

The £1.7 billion iShares World Equity Enhanced Active UCITS ETF rose 0.81% in June. The gain on the fund beat the 0.71% gain on the average fund in the global large-cap blend equity category, leaving it in the 47th percentile for performance. The fund lagged its benchmark, the MSCI World Index, by 4.58 percentage points.

Over the past 12 months, the iShares fund rose 26.98%, while the average fund in its category rose 21.38%. The fund was launched in July 2024.

PIMCO ETFs PLC - Euro Short Maturity UCITS ETF PJS1

• Morningstar Medalist Rating
  : Silver
• Morningstar Category
  : EUR Ultra Short-Term Bond

In June, the PIMCO ETFs PLC - Euro Short Maturity UCITS ETF fell 0.30%, while the average EUR ultra short-term bond fund lost 0.29%. The fund placed in the 63rd percentile for performance and edged out its benchmark, the ICE BofA 3 Month German Treasury Bill Index, by 0.04 percentage points.

The £1.5 billion fund has climbed 2.94% over the past 12 months, outperforming the average fund in its category, which rose 2.56%. The PIMCO fund, which launched in January 2011, has climbed 3.71% over the past three years annualized and gained 1.96% annualized over the past five years.