# Multi Units LU Amundi Euro Government Bond 3-5Y Acc- Capitalisation (0HGZ)

**Page:** https://fundology.uk/fund/0hgz · ISIN LU1650488494

## 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, 0HGZ (Multi Units LU Amundi Euro Government Bond 3-5Y Acc- Capitalisation, ISIN LU1650488494) closed at €150.35 on the London Stock Exchange. Its ongoing charge is 0.16% a year (about £16 on £10,000). Over the five years to 13/11/2026 its total return was −4.8%, or −25.7% after UK CPIH inflation.

## Summary

Multi Units LU Amundi Euro Government Bond 3-5Y Acc- Capitalisation is an exchange-traded fund (ETF) from Amundi, launched in 2004. It tracks the Bloomberg Euro Treasury 50bn 3-5 Year Bond Index. You buy and sell it through a share-dealing account or platform during stock-market hours, like a share. Its ongoing charge is 0.16% a year — about £16 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: **€150.35** (13/11/2026).

## Key facts

| Fact | Value |
|---|---|
| Ticker (LSE) | 0HGZ |
| ISIN | LU1650488494 |
| Also listed as | LYQ3 (Xetra, euros) |
| Category | Government bonds |
| Type | ETF |
| Provider | Amundi |
| Tracks | Bloomberg Euro Treasury 50bn 3-5 Year Bond Index |
| Income | Accumulating |
| Ongoing charge | 0.16% a year (£16 per £10,000) |
| Fund size | £1.7bn |
| Launched | 2004 |
| Domicile | Luxembourg |
| UK reporting fund status | Yes — on HMRC’s list of reporting funds (list of 02/11/2026); reporting fund since 23/11/2017 |

## 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 | -6.57% | -9.88% | income reinvested |
| 3 years | +2.14% | -7.72% | income reinvested |
| 5 years | -4.76% | -25.66% | income reinvested |

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

## Calendar-year returns

Calendar-year returns of Multi Units LU Amundi Euro Government Bond 3-5Y Acc- Capitalisation in pounds (price, with income reinvested in the fund): 2022 −4.9%, 2023 +3.1%, 2024 −2.6%, 2025 +7.6%; 2026 to 13/11/2026 −5.3%. Returns of Multi Units LU Amundi Euro Government Bond 3-5Y Acc- Capitalisation in pounds (price, with income reinvested in the fund) over the 12 months to 30/09/2026: −3.6%; to 30/09/2025: +7.1%; to 30/09/2024: +3.0%; to 30/09/2023: −3.1%; to 30/09/2022: −6.5%.

| Year | Return | After CPIH inflation | Measured as |
|---|---|---|---|
| 2022 | -4.9% | -13.0% | Price |
| 2023 | +3.1% | -1.0% | Price |
| 2024 | -2.6% | -5.9% | Price |
| 2025 | +7.6% | +3.9% | Price |
| 2026 to 13/11/2026 | -5.3% | -8.4% | Price |

## Risk metrics

| Window | Volatility | Max drawdown |
|---|---|---|
| 1 year | 3.94% | -7.23% |
| 3 years | 4.52% | -7.23% |
| 5 years | 5.17% | -10.38% |

## Largest fall

Volatility of Multi Units LU Amundi Euro Government Bond 3-5Y Acc- Capitalisation in pounds, annualised from weekly returns to 13/11/2026: 3.9% over 1 year, 4.5% over 3 years, 5.2% over 5 years. Largest fall in the price of Multi Units LU Amundi Euro Government Bond 3-5Y Acc- Capitalisation since November 2021, in pounds: −10.2% from 10/12/2021 to 07/07/2023. The lowest 12-month return of Multi Units LU Amundi Euro Government Bond 3-5Y Acc- Capitalisation in pounds (price, with income reinvested in the fund) since January 2021 was −8.9% (12 months to 07/01/2022); the highest was +9.2% (12 months to 07/11/2025). On 13/11/2026 the price of Multi Units LU Amundi Euro Government Bond 3-5Y Acc- Capitalisation was 6.9% below its highest weekly close since November 2021 (14/11/2025), in pounds.

## Charges compared with similar funds

Ongoing charge of Multi Units LU Amundi Euro Government Bond 3-5Y Acc- Capitalisation 0.16% a year. Compared on 14/11/2026, 106 of the 311 other government bond funds charge more, 10 the same and 195 less (share classes counted once).

## Charges & eligibility

- Ongoing charges figure (OCF): **0.16%** 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, 0HGZ holds 71 positions, according to its published holdings. The largest is FRANCE OAT 2.5% 25May30 at 4.62% of the fund; the ten largest make up 31.8%.

### Top holdings

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

| # | Holding | Ticker | Weight |
|---|---|---|---|
| 1 | FRANCE OAT 2.5% 25May30 | — | 4.62% |
| 2 | FRANCE OAT 1.5% 25May31 | — | 4.19% |
| 3 | FRENCH REPUBL OAT 2.7% 25Feb31 | — | 4.09% |
| 4 | FRENCH REPUBL OAT 2.75% 25Feb30 | — | 3.90% |
| 5 | FRENCH REPUBL OAT % 25Nov30 | — | 3.27% |
| 6 | FRENCH REPUBL OAT % 25Nov29 | — | 2.90% |
| 7 | FEDERAL REPUB BOBL 2.5% 16Apr31 | — | 2.33% |
| 8 | ITALIAN REPUB BTPS 6% 01May31 | — | 2.30% |
| 9 | ITALIAN REPUB BTPS 5.25% 01Nov29 | — | 2.11% |
| 10 | FEDERAL REPUB BOBL 2.4% 18Apr30 | — | 2.07% |

## 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 11/11/2026.

| Country | Weight |
|---|---|
| Italy | 25.2% |
| France | 23.0% |
| Germany | 22.3% |
| Spain | 12.8% |
| Belgium | 4.0% |
| Netherlands | 4.0% |
| Austria | 3.2% |
| Ireland | 2.0% |
| Other countries | 3.5% |

The 70 holdings on record (of 71 reported): https://fundology.uk/fund/0hgz/holdings

## Questions people ask

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

The ongoing charge of 0HGZ is 0.16% a year — about £16 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 Multi Units LU Amundi Euro Government Bond 3-5Y Acc- Capitalisation 0.16% a year. Compared on 14/11/2026, 106 of the 311 other government bond funds charge more, 10 the same and 195 less (share classes counted once).

**What does 0HGZ track?**

0HGZ tracks the Bloomberg Euro Treasury 50bn 3-5 Year Bond Index.

**Is 0HGZ accumulating or distributing?**

0HGZ 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 0HGZ?**

The ISIN of 0HGZ is LU1650488494. An ISIN identifies one exact share class of a fund; 0HGZ is its ticker on the London Stock Exchange. The same share class is also listed as LYQ3 (Xetra, euros).

**What does 0HGZ hold?**

As of 11/11/2026, 0HGZ holds 71 positions, according to its published holdings. The largest is FRANCE OAT 2.5% 25May30 at 4.62% of the fund; the ten largest make up 31.8%. Its ten largest holdings are FRANCE OAT 2.5% 25May30 (4.62%), FRANCE OAT 1.5% 25May31 (4.19%), FRENCH REPUBL OAT 2.7% 25Feb31 (4.09%), FRENCH REPUBL OAT 2.75% 25Feb30 (3.90%), FRENCH REPUBL OAT % 25Nov30 (3.27%), FRENCH REPUBL OAT % 25Nov29 (2.90%), FEDERAL REPUB BOBL 2.5% 16Apr31 (2.33%), ITALIAN REPUB BTPS 6% 01May31 (2.30%), ITALIAN REPUB BTPS 5.25% 01Nov29 (2.11%) and FEDERAL REPUB BOBL 2.4% 18Apr30 (2.07%).

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

Calendar-year returns of 0HGZ in pounds (price, with income reinvested in the fund): 2022 −4.9%, 2023 +3.1%, 2024 −2.6%, 2025 +7.6%; 2026 to 13/11/2026 −5.3%. Past performance is not a guide to future returns.

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

Over the five years to 13/11/2026 0HGZ’s total return was −4.8%, or −25.7% 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-government-bond-35y-ucits-etf-acc/lu1650488494)
- 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.