# Amundi Euro Highest Rated Macro-Weighted Government Bond UCITS ETF Acc (0E46)

**Page:** https://fundology.uk/fund/0e46 · ISIN LU1287023342

## At a glance

> Capital at risk. Past performance is not a guide to future returns. The value of investments can fall as well as rise.

As of 13/11/2026, 0E46 (Amundi Euro Highest Rated Macro-Weighted Government Bond UCITS ETF Acc, ISIN LU1287023342) closed at €123.59 on the London Stock Exchange. Its ongoing charge is 0.17% a year (about £17 on £10,000). Over the five years to 13/11/2026 its total return was −19.2%, or −36.9% after UK CPIH inflation.

## Summary

Amundi Euro Highest Rated Macro-Weighted Government Bond UCITS ETF Acc is an exchange-traded fund (ETF) from Amundi, launched in 2009. It tracks the FTSE Eurozone Mid Price Highest Rated Macro-Weighted Government Bond. You buy and sell it through a share-dealing account or platform during stock-market hours, like a share. Its ongoing charge is 0.17% a year — about £17 a year on every £10,000 invested, taken from the fund's value rather than billed to you. Income from its investments is reinvested inside the fund, so it shows up as a rising price rather than cash paid to you.

Latest close: **€123.59** (13/11/2026).

## Key facts

| Fact | Value |
|---|---|
| Ticker (LSE) | 0E46 |
| ISIN | LU1287023342 |
| Also listed as | LYXA (Xetra, euros) |
| Category | Government bonds |
| Type | ETF |
| Provider | Amundi |
| Tracks | FTSE Eurozone Mid Price Highest Rated Macro-Weighted Government Bond |
| Income | Accumulating |
| Ongoing charge | 0.17% a year (£17 per £10,000) |
| Fund size | £275m |
| Launched | 2009 |
| Domicile | Luxembourg |
| UK reporting fund status | Yes — on HMRC’s list of reporting funds (list of 02/11/2026); reporting fund since 21/07/2016 |

## Past returns (periods to 13/11/2026)

After the fund's ongoing charges. "Income reinvested" is total return; "price only" leaves out income paid out. Real returns are after UK CPIH inflation.

| Window | Return | After CPIH inflation | Measured as |
|---|---|---|---|
| 1 year | -7.76% | -11.02% | income reinvested |
| 3 years | -2.08% | -11.53% | income reinvested |
| 5 years | -19.20% | -36.93% | income reinvested |

Returns: as reported (delayed data). Inflation: UK CPIH, latest month published.

## Calendar-year returns

Calendar-year returns of Amundi Euro Highest Rated Macro-Weighted Government Bond UCITS ETF Acc in pounds (price, with income reinvested in the fund): 2022 −16.7%, 2023 +3.0%, 2024 −4.4%, 2025 +3.8%; 2026 to 13/11/2026 −5.9%. Returns of Amundi Euro Highest Rated Macro-Weighted Government Bond UCITS ETF Acc in pounds (price, with income reinvested in the fund) over the 12 months to 30/09/2026: −5.4%; to 30/09/2025: +3.4%; to 30/09/2024: +3.6%; to 30/09/2023: −5.6%; to 30/09/2022: −17.0%.

| Year | Return | After CPIH inflation | Measured as |
|---|---|---|---|
| 2022 | -16.7% | -23.8% | Price |
| 2023 | +3.0% | -1.1% | Price |
| 2024 | -4.4% | -7.7% | Price |
| 2025 | +3.8% | +0.3% | Price |
| 2026 to 13/11/2026 | -5.9% | -8.9% | Price |

## Risk metrics

| Window | Volatility | Max drawdown |
|---|---|---|
| 1 year | 5.96% | -8.44% |
| 3 years | 6.03% | -8.44% |
| 5 years | 8.51% | -21.85% |

## Largest fall

Volatility of Amundi Euro Highest Rated Macro-Weighted Government Bond UCITS ETF Acc in pounds, annualised from weekly returns to 13/11/2026: 6.0% over 1 year, 6.0% over 3 years, 8.5% over 5 years. Largest fall in the price of Amundi Euro Highest Rated Macro-Weighted Government Bond UCITS ETF Acc since November 2021, in pounds: −21.7% from 10/12/2021 to 06/10/2023. The lowest 12-month return of Amundi Euro Highest Rated Macro-Weighted Government Bond UCITS ETF Acc in pounds (price, with income reinvested in the fund) since January 2021 was −18.4% (12 months to 04/11/2022); the highest was +6.5% (12 months to 07/11/2025). On 13/11/2026 the price of Amundi Euro Highest Rated Macro-Weighted Government Bond UCITS ETF Acc was 21.1% below its highest weekly close since November 2021 (10/12/2021), in pounds.

## Charges compared with similar funds

Ongoing charge of Amundi Euro Highest Rated Macro-Weighted Government Bond UCITS ETF Acc 0.17% a year. Compared on 14/11/2026, 98 of the 311 other government bond funds charge more, 7 the same and 206 less (share classes counted once).

## Charges & eligibility

- Ongoing charges figure (OCF): **0.17%** per year (as of 13/11/2026)
- Stocks and shares ISA eligible: usually (check with your platform)
- SIPP eligible: usually (check with your provider)
- ISA and SIPP mean the kind of product usually qualifies under HMRC rules. We do not check each platform’s list — each provider decides which funds it offers. Crypto ETNs have not qualified for a stocks and shares ISA since 06/04/2026, and overseas funds that are not UK-recognised UCITS, such as Swiss ETFs, do not usually qualify.

## What it holds

As of 11/11/2026, 0E46 holds 201 positions, according to its published holdings. The largest is FEDERAL REPUB BRD 2.9% 15Feb36 at 1.39% of the fund; the ten largest make up 11.3%.

### Top holdings

Largest positions (as of 11/11/2026), as a percentage of the whole fund:

| # | Holding | Ticker | Weight |
|---|---|---|---|
| 1 | FEDERAL REPUB BRD 2.9% 15Feb36 | — | 1.39% |
| 2 | FEDERAL REPUB BRD 2.3% 15Feb33 (DE000BU2Z007) | — | 1.22% |
| 3 | FEDERAL REPUB BOBL 2.5% 16Apr31 | — | 1.18% |
| 4 | FEDERAL REPUB BRD 2.5% 15Feb35 (DE000BU2Z049) | — | 1.11% |
| 5 | FEDERAL REPUB BRD 2.6% 15Aug34 | — | 1.11% |
| 6 | FEDERAL REPUB BRD 2.2% 15Feb34 | — | 1.09% |
| 7 | FEDERAL REPUB BRD 2.9% 15Aug56 | — | 1.06% |
| 8 | FEDERAL REPUB BRD 2.6% 15Aug35 | — | 1.05% |
| 9 | GERMANY BRD 4% 04Jan37 | — | 1.05% |
| 10 | FEDERAL REPUB BOBL 2.4% 18Apr30 | — | 1.04% |

## Where it invests

Shares of the whole fund. Bonds, cash and positions without a classification are shown as they come, not guessed.

### By country

As published for the fund, as of 04/11/2026.

| Country | Weight |
|---|---|
| Germany | 50.9% |
| France | 27.1% |
| Netherlands | 13.8% |
| Austria | 5.3% |
| Finland | 2.9% |

The 200 holdings on record (of 201 reported): https://fundology.uk/fund/0e46/holdings

## Questions people ask

**What is the ongoing charge of 0E46?**

The ongoing charge of 0E46 is 0.17% a year — about £17 a year on every £10,000 invested, taken from the fund’s value rather than billed to you. Platform and dealing fees are charged separately. Ongoing charge of Amundi Euro Highest Rated Macro-Weighted Government Bond UCITS ETF Acc 0.17% a year. Compared on 14/11/2026, 98 of the 311 other government bond funds charge more, 7 the same and 206 less (share classes counted once).

**What does 0E46 track?**

0E46 tracks the FTSE Eurozone Mid Price Highest Rated Macro-Weighted Government Bond.

**Is 0E46 accumulating or distributing?**

0E46 is accumulating: income is reinvested inside the fund, so it shows up as a rising price rather than cash paid to you.

**What is the ISIN of 0E46?**

The ISIN of 0E46 is LU1287023342. An ISIN identifies one exact share class of a fund; 0E46 is its ticker on the London Stock Exchange. The same share class is also listed as LYXA (Xetra, euros).

**What does 0E46 hold?**

As of 11/11/2026, 0E46 holds 201 positions, according to its published holdings. The largest is FEDERAL REPUB BRD 2.9% 15Feb36 at 1.39% of the fund; the ten largest make up 11.3%. Its ten largest holdings are FEDERAL REPUB BRD 2.9% 15Feb36 (1.39%), FEDERAL REPUB BRD 2.3% 15Feb33 (DE000BU2Z007) (1.22%), FEDERAL REPUB BOBL 2.5% 16Apr31 (1.18%), FEDERAL REPUB BRD 2.5% 15Feb35 (DE000BU2Z049) (1.11%), FEDERAL REPUB BRD 2.6% 15Aug34 (1.11%), FEDERAL REPUB BRD 2.2% 15Feb34 (1.09%), FEDERAL REPUB BRD 2.9% 15Aug56 (1.06%), FEDERAL REPUB BRD 2.6% 15Aug35 (1.05%), GERMANY BRD 4% 04Jan37 (1.05%) and FEDERAL REPUB BOBL 2.4% 18Apr30 (1.04%).

**What were 0E46’s returns in each of the last five years?**

Calendar-year returns of 0E46 in pounds (price, with income reinvested in the fund): 2022 −16.7%, 2023 +3.0%, 2024 −4.4%, 2025 +3.8%; 2026 to 13/11/2026 −5.9%. Past performance is not a guide to future returns.

**How has 0E46 done after inflation?**

Over the five years to 13/11/2026 0E46’s total return was −19.2%, or −36.9% after UK CPIH inflation. Past performance is not a guide to future returns.

## Fund documents

- [Fund page at Amundi](https://www.amundietf.co.uk/en/professional/products/fixed-income/amundi-euro-highest-rated-macroweighted-government-bond-ucits-etf-acc/lu1287023342)
- Links checked 12/10/2026.

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Capital at risk. Past performance is not a guide to future returns. The value of investments can fall as well as rise.