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Smart Alpha portfolios Powered by J.P. Morgan Asset Management.

Smart Alpha portfolios combine Nutmeg's core investment principles, ETF and fractional investment expertise, with the in-house, multi-asset knowledge and experience of one of the world's leading investment houses.

150+ years of J.P. Morgan Asset Management experience

Globally diversified

Managed by experts

Smart Alpha portfolios

Nutmeg has partnered with its affiliate company J.P. Morgan Asset Management for the exclusive launch of Smart Alpha investment portfolios. With Smart Alpha portfolios we're combining Nutmeg's core investment principles, ETF and fractional investment expertise with the in-house, multi-asset knowledge and experience of one of the world's leading investment houses.

Smart Alpha portfolios, in a nutshell

Who's it for?


'I want to seek additional returns through smart, transparent security selection in my portfolio'

What do the portfolios contain?


Globally diversified portfolios of exchange traded funds (ETFs) designed to align with your risk preference and goals. The Smart Alpha portfolio range is unique by introducing research-driven security selection. Alongside passive ETFs, the Smart Alpha portfolios also include innovative active ETFs that benefit from J.P. Morgan Asset Management's research expertise and global team's experience.

Is there ongoing management?


Yes, the asset allocation of these portfolios is set and adapted over time by our in-house investment team, who actively managed these portfolios. They make tactical adjustments informed by the research of J.P. Morgan Asset Management, who have a 150-year history of investment expertise. The selection of underlying funds is also informed by J.P Morgan Asset Management, leveraging innovative active ETFs that seek to outperform the market benchmark by going slightly overweight or underweight in positions based on the views of J.P. Morgan Asset management research analysts.

Risk levels


Choose from five risk levels, low to high, to reflect your risk appetite.

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Powered by J.P.Morgan Asset Management

Is my money locked in?


No. You can have access to your money in a few days, at any time, with a stocks and shares ISA or general investment account. Pension, Lifetime ISA and Junior ISA have withdrawal restrictions and conditions that may apply.

What other investment styles are available?

All five Nutmeg investment styles are built by experts and use exchange traded funds (more on ETFs here) to diversify across stocks, bonds, industries, even countries.

Choose the one that works for you. 

Fully managed

Proactively managed portfolio.


Find out more

Thematic investing

Invest in the long-term trends shaping our future.

Find out more

Socially responsible investing

Built to incorporate ESG considerations.


Find out more

Fixed allocation

Assets without intervention at a low cost.

Find out more

Past performance and asset allocation

Below you can see a detailed breakdown of our performance, as well as an indication of how our investments are allocated across global financial markets.

Scroll down the page to see the results. It will update automatically when you change the risk level.Scroll down the page to see the results. It will update automatically when you change the risk level.Scroll down the page to see the results. It will update automatically when you change the risk level.Scroll down the page to see the results. It will update automatically when you change the risk level.
Risk level

Track record

Explore our full 3-year track record for each of our 5 risk-based Smart Alpha portfolios and see how our results compare against our competitors.

The past performance shown represents a composite of asset-weighted average returns for Nutmeg client portfolios, net of all fees. A composite return represents the average return of all client accounts for a given risk level on a given day, weighted by assets. Past performance is not a reliable indicator of future performance.

*The annualised figure is the return since inception expressed as a compound annual rate. For example, a portfolio with an annualised return of 6% corresponds to an actual return of 19.1% over three years (rather than 18% as you might expect) due to the effect of compounding.

Capital at risk.

A simple fee structure

Most people ask us...

Like our Fully Managed and SRI portfolios, Smart Alpha portfolios follow a dynamic investment philosophy. However, what makes Smart Alpha portfolios unique is the introduction of research-driven security selection, using J. P. Morgan Asset Management's market insights and analysis to make tactical adjustments over time. This partnership embodies our belief that asset allocation is the single most important decision facing every investor. By launching Smart Alpha portfolios we are bringing a new dimension to our investment offering: active, research-driven, security selection.

J.P. Morgan Asset Management, our affiliate company, is one of the world’s leading asset managers, with a history stretching back more than 150 years, and offers both specialist multi-asset expertise and the research and insights of 1,000+ global investment professionals.
In October 2021 Nutmeg became part of the J. P. Morgan group. This acquisition will not affect either the strategy or ongoing management of the Smart Alpha Portfolios

Alongside passive ETFs, Smart Alpha portfolios include innovative ‘active’ ETFs that benefit from the insights of J.P. Morgan’s Asset Management global team of research analysts who seek returns in excess of the respective market benchmark through security selection. These ETFs are built and managed by J.P. Morgan Asset Management and seek to offer the diversification, transparency and cost benefits of passive ETFs, alongside the opportunity to seek returns in excess of the market (known as ‘alpha’) through research-driven security selection.

This means the ETFs can take overweight positions (positions larger than the benchmark position) in securities expected to do well, and underweight positions (positions smaller than the benchmark position) in securities expected to do poorly. Any additional risk is carefully controlled.

While leveraging the insights of J.P. Morgan Asset Management’s global investment teams, Smart Alpha portfolios also embody Nutmeg’s core investment principles. Smart Alpha portfolios are underpinned by Nutmeg and J.P. Morgan Asset Management’s shared commitment to responsible investing. Where these portfolios use active ETFs, environmental, social and governance (ESG) considerations are factored into the research and investment decisions. The active equity ETFs in Smart Alpha portfolios exclude tobacco, thermal coal, controversial weapons and weapons’ producers, and sustainable business practices are promoted through company engagement.