Each month, we check in on the performance of the largest Europe-domiciled active exchange-traded funds available for sale in Finland.
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 €3.7 billion JPMorgan ETFs (Ireland) ICAV - JPM Nasdaq Equity Premium Income Active UCITS ETF JEQA, which gained 3.64%. The bottom performer was the €2.3 billion PIMCO ETFs PLC - US Dollar Short Maturity UCITS ETF MINT, which lost 0.61%.
Here’s more about the performance of the largest active ETFs.
JPMorgan ETFs (Ireland) ICAV - US Research Enhanced Index Equity Active UCITS ETF JREU
- : GoldMorningstar Medalist Rating
- : US Large-Cap Blend EquityMorningstar Category
In August, the JPMorgan ETFs (Ireland) ICAV - US Research Enhanced Index Equity Active UCITS ETF rose 1.23%, while the average US large-cap blend equity fund gained 1.92%. The fund underperformed 81% of its peers and lagged its benchmark, the S&P 500 Index, by 0.48 percentage points.
The €13.4 billion fund has climbed 20.19% over the past 12 months, outperforming the average fund in its category, which rose 19.20%. The JPMorgan fund, which launched in October 2018, has climbed 17.37% over the past three years annualized and gained 12.76% annualized over the past five years.
JPMorgan ETFs (Ireland) ICAV - Global Research Enhanced Index Equity Active UCITS ETF JREG
- : GoldMorningstar Medalist Rating
- : Global Large-Cap Blend EquityMorningstar Category
The JPMorgan ETFs (Ireland) ICAV - Global Research Enhanced Index Equity Active UCITS ETF gained 1.21% in August, underperforming the average fund in the global large-cap blend equity category, which rose 1.95%. The fund underperformed 79% of its peers and lagged its benchmark, the MSCI World Index, by 0.39 percentage points.
The €9.1 billion fund has gained 21.22% over the past 12 months, while the average fund in its category is up 18.80%. The JPMorgan fund, which launched in October 2018, has climbed 16.89% over the past three years annualized and gained 11.88% annualized over the past five years.
JPMorgan ETFs (Ireland) ICAV - JPM Nasdaq Equity Premium Income Active UCITS ETF JEQA
- : SilverMorningstar Medalist Rating
- : US Equity IncomeMorningstar Category
The JPMorgan ETFs (Ireland) ICAV - JPM Nasdaq Equity Premium Income Active UCITS ETF gained 3.64% in August, outperforming the average fund in the US equity income category, which rose 0.79%. The fund outperformed 98% of its peers and beat its benchmark, the NASDAQ 100 Index, by 0.40 percentage points.
The €3.7 billion fund has gained 22.12% over the past 12 months, while the average fund in its category is up 17.47%. The JPMorgan fund was launched in October 2024.
Invesco Global Active ESG Equity UCITS ETF IQSA
- : NeutralMorningstar Medalist Rating
- : Global Large-Cap Blend EquityMorningstar Category
The €3 billion Invesco Global Active ESG Equity UCITS ETF rose 0.62% in August. The gain on the fund was shy of the 1.95% gain on the average fund in the global large-cap blend equity category, underperforming 91% of its peers. The fund lagged its benchmark, the MSCI World Index, by 0.98 percentage points.
Over the past 12 months, the Invesco fund rose 29.20%, while the average fund in its category rose 18.80%. The fund, which launched in July 2019, has climbed 21.75% over the past three years annualized and gained 14.56% annualized over the past five years.
JPMorgan ETFs (Ireland) ICAV - Europe Research Enhanced Index Equity Active UCITS ETF JREE
- : GoldMorningstar Medalist Rating
- : Europe Large-Cap Blend EquityMorningstar Category
The €3 billion JPMorgan ETFs (Ireland) ICAV - Europe Research Enhanced Index Equity Active UCITS ETF rose 0.22% in August. The gain on the fund was shy of the 0.83% gain on the average fund in the Europe large-cap blend equity category, underperforming 80% of its peers. The fund lagged its benchmark, the MSCI Europe Index, by 0.24 percentage points.
Over the past 12 months, the JPMorgan fund rose 22.81%, while the average fund in its category rose 18.29%. The fund, which launched in October 2018, has climbed 14.85% over the past three years annualized and gained 10.05% annualized over the past five years.
PIMCO ETFs PLC - US Dollar Short Maturity UCITS ETF MINT
- : GoldMorningstar Medalist Rating
- : USD Ultra Short-Term BondMorningstar Category
The €2.3 billion PIMCO ETFs PLC - US Dollar Short Maturity UCITS ETF fell 0.61% in August. The loss on the fund was roughly in line with the 0.64% loss on the average fund in the USD ultra short-term bond category, outperforming 87% of its peers. The fund performed roughly in line with its benchmark, the FTSE Treasury Bill 3 Month Index.
Over the past 12 months, the PIMCO fund rose 5.12%, while the average fund in its category rose 4.58%. The fund, which launched in February 2011, has climbed 2.75% over the past three years annualized and gained 3.90% annualized over the past five years.
PIMCO ETFs PLC - Euro Short Maturity UCITS ETF PJS1
- : SilverMorningstar Medalist Rating
- : EUR Ultra Short-Term BondMorningstar Category
In August, the PIMCO ETFs PLC - Euro Short Maturity UCITS ETF rose 0.23%, while the average EUR ultra short-term bond fund gained 0.16%. The fund outperformed 91% of its peers and beat its benchmark, the ICE BofA 3 Month German Treasury Bill Index, by 0.04 percentage points.
The €1.7 billion fund has climbed 2.24% over the past 12 months, outperforming the average fund in its category, which rose 1.87%. The PIMCO fund, which launched in January 2011, has climbed 3.44% over the past three years annualized and gained 1.97% annualized over the past five years.
JPM Global Equity Premium Income Active UCITS ETF JEPG
- : BronzeMorningstar Medalist Rating
- : Global Equity IncomeMorningstar Category
In August, the JPM Global Equity Premium Income Active UCITS ETF rose 1.45%, while the average global equity income fund gained 0.88%. The fund outperformed 74% of its peers and lagged its benchmark, the MSCI World Index, by 0.15 percentage points.
The €1.4 billion fund has climbed 7.83% over the past 12 months, underperforming the average fund in its category, which rose 19.56%. The JPMorgan fund was launched in November 2023.
Fidelity Global Corp Bond Research Enhanced PAB UCITS ETF FSMF
- : NeutralMorningstar Medalist Rating
- : Global Corporate BondMorningstar Category
The Fidelity Global Corp Bond Research Enhanced PAB UCITS ETF lost 0.32% in August, falling less than the average fund in the global corporate bond category, which fell 0.41%. The fund outperformed 72% of its peers and performed roughly in line with its benchmark, the Solactive Paris Algnd Gbl Corp Index.
The €984 million fund has gained 1.86% over the past 12 months, while the average fund in its category is up 2.15%. The Fidelity International fund, which launched in March 2021, has climbed 3.09% over the past three years annualized and gained 0.32% annualized over the past five years.
JPMorgan ETFs (Ireland) ICAV - USD Ultra-Short Income Active UCITS ETF JPST
- : SilverMorningstar Medalist Rating
- : USD Ultra Short-Term BondMorningstar Category
The €846.1 million JPMorgan ETFs (Ireland) ICAV - USD Ultra-Short Income Active UCITS ETF fell 0.61% in August. The loss on the fund was roughly in line with the 0.64% loss on the average fund in the USD ultra short-term bond category, outperforming 90% of its peers. The fund edged out its benchmark, the ICE BofA US 3-Month Treasury Bill Index, by 0.06 percentage points.
Over the past 12 months, the JPMorgan fund rose 4.67%, while the average fund in its category rose 4.58%. The fund, which launched in February 2018, has climbed 2.68% over the past three years annualized and gained 4.08% annualized over the past five years.
