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BB3M
+1.25 · +1.07%
£117.41 · LSE
JPM BetaBuilders US Treasury Bond 0-3 Months UCITS ETF USD Acc USD | USD Ultra Short-Term Bond
JPMorgan Asset Management (Europe) S.à r.l. · Ireland
AUM:$239.6M
#– of – in USD Ultra Short-Term Bond ETFs
ℹ️
Reward Rating
52
Moderate
3.94% 1Y return
ℹ️
Risk Rating
18
Low
Risk Assessment
ℹ️

Educational tool only – Scores are based on historical data, holdings and expense metrics for informational purposes. This is not financial advice or a recommendation to buy or sell any security. Always conduct your own research or consult a qualified financial adviser.

Market Performance

BB3M returned +3.9% over the past year, broadly in line with flat market conditions.

Cost Efficiency

💰 Ongoing charge of 0.07% — among the lowest available for this category.

What is BB3M?

The Sub-Fund seeks to provide an exposure to the performance of US Dollardenominated fixed rate government bonds issued by the US Treasury with a remaining maturity of less than or equal to three months.

Performance Highlights

Investment Breakdown

Modest 1-Year Return
BB3M returned 3.9% over the past year.
Ultra-Low Ongoing Charge
Ongoing charge of 0.07% — among the lowest available. Low costs compound favourably over long holding periods.
Broadly Diversified
Top 10 holdings represent just 1.0% of the ETF — exposure spread across many positions.

Openbook Analysis

Performance: Moderate (52)

The scoring profile reflects moderate historical performance, with a 3.9% 1-year return (historical). The ongoing charge of 0.07% is very competitive. Risk indicators are low, suggesting below-average volatility (historical).

For informational and educational purposes only. Not financial advice. Past performance is not indicative of future results.

ETF Information
AUM$239.6M
Ongoing Charge0.07%
Dividend Yield0.00%
Holdings1
Inception DateFeb 2021
DomicileIreland
Distribution–
IndexMorningstar US 0-1 Core exYnk TR USD
ProviderJPMorgan Asset Management (Europe) S.à r.l.
Beta0.18
CategoryUSD Ultra Short-Term Bond
CurrencyUSD
Portfolio Impact

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6168
+7 points · better diversified
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Uses ISF.L (iShares FTSE 100 ETF)
Indicators

Performance Metrics

Historical returns

6M
+1.8%
1Y
+3.9%
3Y
+14.7%
5Y
+18.4%
OpenBook InsightIf you had invested £10,000 in BB3M 5 years ago, it would have grown to £11,845 — a gain of £1,845.

Annual Returns

Calendar year performance

BB3M delivered positive returns in 5 of the last 5 calendar years.
YearBB3M
2026 YTD+1.5%
2025+4.2%
2024+5.2%
2023+5.0%
2022+1.5%
CAGR 4yr+3.9%
5/5 positive yearsAvg return: +3.5%Worst year: +1.5% (2022)

Technical Analysis Summary

Automated insights from historical price action and indicators

Technical Regime: POSITIVE
Trend Strength
100%
Positive
Volatility
1.0%
Low
Momentum
+0.5%
30-day change
Support Level
117.86
Key floor
Key Insights
  • Price is currently trading above all key moving averages.
  • Price is consolidating, with low momentum over the recent period.
  • Low volatility environment with a narrower recent trading range.

Reward Rating Breakdown

Our reward rating analyses BB3M's attractiveness using 4 weighted factors. Each factor is scored 0-100, then combined using the weights shown below. Past performance does not guarantee future results.

Overall Reward Rating
52
Moderate REWARD
Data Coverage: %
Factor Framework
Performance
Has the ETF delivered strong historical returns versus similar ETFs?
Cost Efficiency
Is the ETF cheap to own over long periods?
Income
Does it provide attractive and consistent distributions?
Diversification Quality
Does it spread exposure across holdings, sectors, and regions?

📈 Performance

Weight: 30%
40/100

Has the ETF delivered strong historical returns versus similar ETFs? Combines 1/3/5/10-year returns with the Sharpe ratio (risk-adjusted return).

1Y Return
3.94%
Weak
3Y Return
4.69%
Weak
5Y Return
3.37%
Weak
10Y Return
0.00%
Weak
Sharpe Ratio
—
No Data

Moderate performance profile: 1-year return of 3.94%, 3-year annualised 4.69%, 5-year annualised 3.37%. Past performance is not indicative of future results.

💰 Cost Efficiency

Weight: 30%
80/100

Is the ETF cheap to own over long periods? Low ongoing charges compound into meaningful additional returns over a 10-year horizon.

Ongoing Charge
0.07%
Very Good
Net Expense Ratio
—
No Data
Annual Turnover
—
No Data
Tracking Difference
—
No Data

Low-cost and efficient structure: ongoing charge of 0.07%.

💵 Income

Weight: 15%
15/100

Does the ETF provide attractive and consistent distributions? Combines the current yield with distribution frequency.

Distribution Yield
0.00%
Very Weak
Distribution Frequency
—
No Data

Low-income profile — better suited as a growth holding: distribution yield of 0.00%.

🌐 Diversification Quality

Weight: 25%
55/100

Does the ETF spread exposure across many holdings, sectors, and regions? Concentrated funds can be doing exactly what they're meant to do — treat the score as context, not a verdict.

Holdings
1
Very Weak
Top 10 Concentration
1.02%
Very Good
Top Sector
—
No Data
Top Region
—
No Data

Moderate diversification: 1 holdings, top 10 at 1.0%.

Scores are derived from fund-provider disclosures and historical data. For informational and educational purposes only — not investment advice. Past performance is not indicative of future results.

Risk Rating Breakdown

Our risk rating analyses BB3M using 4 weighted factors. A higher score indicates higher risk. This is a framework for understanding exposure — concentrated funds can still be doing exactly what they're meant to do.

Overall Risk Rating
18
Low RISK
Data Coverage: 50%
Factor Framework
Holdings Concentration
How much of the fund sits in its largest positions? Few dominant names mean returns ride on those companies.
Market Exposure
Geographic, sector and cyclical dependencies. High single-country or single-sector weight increases macro sensitivity.
Volatility
Historical price movement, beta and drawdowns — how sharply the fund moves relative to the market.
Income Reliability
How dependable the distribution yield is — cyclical-sector dependency and unusually high yields can flag payout risk.

🎯 Holdings Concentration

Weight: 25%
30/100

How much of the fund sits in a small number of positions? If the top holdings dominate, returns will be driven by those specific companies rather than the broader index.

Top 10 Weight
1.02%
Low Risk
Largest Holding
1.02%
Low Risk
Number of Holdings
1
High Risk
HHI (weight²)
1
Low Risk

Reasonable spread across positions: top 10 holdings at 1.0%, largest single position at 1.02%, 1 total holdings.

🌍 Market Exposure

Weight: 25%
0/100

How dependent is the fund on a single country, sector or economic cycle? Heavy exposure to one market means a single macro event can drive most of the return.

Top Region
—
Low Risk
Top Sector
—
Low Risk
Top 2 Sectors
0.00%
Low Risk
Cyclical Sectors
0.00%
Low Risk

Insufficient exposure data available.

📊 Volatility

Weight: 35%
10/100

How sharply does the fund move day-to-day and how deep have its drawdowns been? High volatility means wider return outcomes over short horizons.

1Y Volatility
0.11%
Low Risk
Beta
0.18
Low Risk
Max Drawdown
—
No Data

Below-average volatility: 1Y volatility of 0.11%, beta of 0.18 (historical).

💵 Income Reliability

Weight: 15%
Not applicable

This is an accumulating ETF. Distributions are reinvested inside the fund, so there's no dividend-reliability risk to assess. The 15% income weight is redistributed to the other three factors.

Scores are derived from fund-provider disclosures and historical data. For informational and educational purposes only — not investment advice. Risk scoring is model-based and past data does not guarantee future results.
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