GBP Ultra-Short Income Active UCITS ETF

GBP Ultra-Short Income Active UCITS ETF

About

GBP Ultra-Short Income Active UCITS ETF (IE00BD9MMG79) is a UCITS-compliant bond ETF tracking the ICE BofA Sterling 3-Month Government Bill Index. With a TER of 0.18%, it is competitively priced, distributing dividends. The fund holds 118 positions across 12 regions with 325M in assets, with heavy concentration — 33% in corporate bonds.

Score Breakdown

Scores are scaled 1–10 on a logarithmic curve relative to all ETFs in the database. Last updated: Jul 2, 2026
Component Score Details
Overall 6.3 Diversification (45%) · Cost (30%) · Liquidity (25%)
Cost (30%) 7.7 Tracking Difference: 10.0 · TD Consistency: 2.8 · Expense Ratio (TER): 5.8
Diversification (45%) 5.1 Holding Count: 4.3 · Country Concentration: 7.0 · Sector Concentration: 1.9
Liquidity (25%) 6.7 Assets Under Management

Data sources: provider factsheets, exchange data, and NAV history. Information for educational purposes only — not investment advice.

ISIN
Fund Size £324.7M
Issuer JPMorgan
Distribution Pays Dividends
Replication —
Inception Jun 2018
Base Currency GBP
Index ICE BofA Sterling 3-Month Government Bill Index
Asset Class Bonds
Category Global Government Bond

Costs

7.7
This fund has low total costs, with competitive tracking and expense ratios.

Cost Metrics Explained

What TER, tracking difference, and TD consistency measure

TER (Total Expense Ratio) is the annual fee the fund charges, deducted from assets. It’s the headline cost, but not the full picture.

Tracking Difference measures how much the fund actually lags (or leads) its benchmark index per year. This is the single best measure of true cost — it captures TER plus all other drags like sampling error and tax withholding. A lower (or negative) value is better.

TD Consistency measures how stable the tracking difference is from year to year. A low value means predictable, reliable costs; a high value means costs can vary significantly.
TER0.00%
Tracking Difference0.00%
TD Consistency0.00%
 
Metric Value
TER 0.18%
Tracking Difference (avg) 0.29%
TD Consistency (std dev) 0.57%

Cumulative Returns

Performance across different time periods.
1 Month+0.00%
3 Months+0.00%
Year to Date+0.00%
1 Year+0.00%
3 Years+0.00%
5 Years+0.00%
Inception+0.00%
 
Period Cumulative Return
1 Month +0.58%
3 Months +0.77%
6 Months +1.88%
1 Year +4.42%
3 Years +5.02%
5 Years +3.38%
10 Years —
YTD +1.47%
Since Inception +21.30%

Holdings

4.3
With only 118 individual holdings, this fund is relatively concentrated compared to other ETFs.
#1
C
Cash and Cash Equivalent
6.28%
#2
D
DNB BANK ASA V/R 08/17/27/GBP/
3.91%
#3
M
Morgan Stanley
2.69%
#4
T
Toronto-Dominion Bank/The
2.32%
#5
O
OP CORPORATE BANK PLC MTN RegS
2.30%
#6
C
CREDIT AGRIC V/R 11/29/27/GBP/
2.16%
#7
B
Bank of Nova Scotia/The
2.10%
#8
B
BPCE SA MTN RegS
1.95%
#9
N
NatWest Markets PLC
1.92%
#10
S
SWEDBANK AB V/R 12/08/27/GBP/
1.92%

Sectors

1.9
This fund is concentrated in just a few of its 5 sectors, reducing diversification.
 
Sector Weight
Unknown 6378.00%
Corporate Bonds 3281.00%
Government Bonds 161.00%
Consumer Discretionary 108.00%
Financials 72.00%

Regions

7.0
This fund invests across 13 countries, though its geographic allocation deviates somewhat from the global market.
 
Country Weight
UNKNOWN 6378.00%
United States 1056.00%
Canada 829.00%
United Kingdom 672.00%
France 347.00%
Netherlands 246.00%
Germany 108.00%
Japan 84.00%
Spain 72.00%
Sweden 72.00%
Switzerland 70.00%
Finland 36.00%
Denmark 30.00%

Nerd Stuff

Advanced risk and return metrics (2023-07-02 — 2026-04-17).
1.0%
Volatility
-1.0%
Max Drawdown
-2.13
Sharpe Ratio
-2.27
Sortino Ratio
-2.13
Calmar Ratio
0.04
Beta
-3.08%
Alpha (Jensen's)
0.021
R²
Benchmark-relative metrics (Beta, Alpha, R²) are calculated against the iShares Core S&P 500 ETF (IE00B5BMR087).

Documents

Regulatory and fund documents.
Key Information DocumentFact Sheet

Broker Availability

Where you can buy this ETF.
Trading 212
Trade
Free
Savings Plan
Free
Account
Free

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