# Amundi USD Emerging Markets Government Bond hs -UCITS ETF GBP Hedged- Capitalisation (AEMH) **Page:** https://fundology.uk/fund/aemh · ISIN LU3307281595 ## 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, AEMH (Amundi USD Emerging Markets Government Bond hs -UCITS ETF GBP Hedged- Capitalisation, ISIN LU3307281595) closed at £4.90 on the London Stock Exchange. Its ongoing charge is 0.45% a year (about £45 on £10,000). ## Summary Amundi USD Emerging Markets Government Bond hs -UCITS ETF GBP Hedged- Capitalisation is an exchange-traded fund (ETF) from Amundi, launched in 2026. It tracks the J.P. Morgan EMBI Global Diversified Select Index - USD - Benchmark TR Gross. You buy and sell it through a share-dealing account or platform during stock-market hours, like a share. Its ongoing charge is 0.45% a year — about £45 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. It is currency-hedged: it aims to remove most of the effect of exchange-rate moves against the pound. Latest close: **£4.90** (13/11/2026). ## Key facts | Fact | Value | |---|---| | Ticker (LSE) | AEMH | | ISIN | LU3307281595 | | Category | Government bonds | | Type | ETF | | Provider | Amundi | | Tracks | J.P. Morgan EMBI Global Diversified Select Index - USD - Benchmark TR Gross | | Income | Accumulating | | Ongoing charge | 0.45% a year (£45 per £10,000) | | Fund size | £24.3m | | Launched | 2026 | | Domicile | Luxembourg | | UK reporting fund status | Yes — on HMRC’s list of reporting funds (list of 02/11/2026); reporting fund since 01/10/2025 | ## Charges compared with similar funds Ongoing charge of Amundi USD Emerging Markets Government Bond hs -UCITS ETF GBP Hedged- Capitalisation 0.45% a year. Compared on 14/11/2026, 14 of the 311 other government bond funds charge more, 3 the same and 294 less (share classes counted once). ## Funds tracking the same index 2 funds track J.P. Morgan EMBI Global Diversified Select Index - USD - Benchmark TR Gross, this one included and share classes counted once; their ongoing charges range from 0.30% to 0.45% a year (13/11/2026). | Fund | Ongoing charge | 1 year | 3 years | 5 years | |---|---|---|---|---| | Amundi Index Solutions - USD Emerging Markets Government Bond | 0.30% | -0.2% | +13.1% | +3.3% | | Amundi USD Emerging Markets Government Bond hs -UCITS ETF GBP Hedged- Capitalisation (this fund) | 0.45% | — | — | — | Returns are as reported, in pounds, income reinvested unless marked "(price)". ## Charges & eligibility - Ongoing charges figure (OCF): **0.45%** 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, AEMH holds 593 positions, according to its published holdings. The largest is ARGENTINE 4.125% 09Jul35 at 1.10% of the fund; the ten largest make up 6.1%. ### Top holdings Largest positions (as of 11/11/2026), as a percentage of the whole fund: | # | Holding | Ticker | Weight | |---|---|---|---| | 1 | ARGENTINE 4.125% 09Jul35 | — | 1.10% | | 2 | REPUBLIC OF E 6.9% 31Jul35 | — | 0.74% | | 3 | ARGENTINE 0.75% 09Jul30 | — | 0.68% | | 4 | ARGENTINE 5% 09Jan38 | — | 0.64% | | 5 | EAGLE FUNDING 5.5% 17Aug30 | — | 0.58% | | 6 | GHANA GOVERNM 5% 03Jul35 | — | 0.55% | | 7 | ARGENTINE 3.5% 09Jul41 | — | 0.53% | | 8 | URUGUAY 5.1% 18Jun50 | — | 0.50% | | 9 | SULTANATE OF 6.75% 17Jan48 | — | 0.41% | | 10 | FEDERATIVE RE 6.625% 15Mar35 | — | 0.39% | ## Where it invests Shares of the whole fund. Bonds, cash and positions without a classification are shown as they come, not guessed. ### By sector As published for the fund, as of 04/11/2026. | Sector | Weight | |---|---| | Government | 89.0% | | Energy | 5.7% | | Financials | 2.3% | | Materials | 1.8% | | Utilities | 0.8% | | Industrials | 0.3% | | Consumer Discretionary | 0.1% | ### By country As published for the fund, as of 04/11/2026. | Country | Weight | |---|---| | Saudi Arabia | 7.0% | | Mexico | 6.8% | | Turkey | 5.3% | | Indonesia | 4.7% | | Brazil | 4.2% | | Poland | 3.9% | | Dominican Republic | 3.7% | | Philippines | 3.7% | | Other countries | 60.7% | The 592 holdings on record (of 593 reported): https://fundology.uk/fund/aemh/holdings ## Questions people ask **What is the ongoing charge of AEMH?** The ongoing charge of AEMH is 0.45% a year — about £45 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 USD Emerging Markets Government Bond hs -UCITS ETF GBP Hedged- Capitalisation 0.45% a year. Compared on 14/11/2026, 14 of the 311 other government bond funds charge more, 3 the same and 294 less (share classes counted once). **What does AEMH track?** AEMH tracks the J.P. Morgan EMBI Global Diversified Select Index - USD - Benchmark TR Gross. **Is AEMH accumulating or distributing?** AEMH 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 AEMH?** The ISIN of AEMH is LU3307281595. An ISIN identifies one exact share class of a fund; AEMH is its ticker on the London Stock Exchange. **What does AEMH hold?** As of 11/11/2026, AEMH holds 593 positions, according to its published holdings. The largest is ARGENTINE 4.125% 09Jul35 at 1.10% of the fund; the ten largest make up 6.1%. Its ten largest holdings are ARGENTINE 4.125% 09Jul35 (1.10%), REPUBLIC OF E 6.9% 31Jul35 (0.74%), ARGENTINE 0.75% 09Jul30 (0.68%), ARGENTINE 5% 09Jan38 (0.64%), EAGLE FUNDING 5.5% 17Aug30 (0.58%), GHANA GOVERNM 5% 03Jul35 (0.55%), ARGENTINE 3.5% 09Jul41 (0.53%), URUGUAY 5.1% 18Jun50 (0.50%), SULTANATE OF 6.75% 17Jan48 (0.41%) and FEDERATIVE RE 6.625% 15Mar35 (0.39%). ## Fund documents - [Fund page at Amundi](https://www.amundietf.co.uk/en/professional/products/fixed-income/amundi-usd-emerging-markets-government-bond-ucits-etf-gbp-hedged-acc/lu3307281595) - Links checked 12/10/2026. --- We show information. We are not financial advisers, not authorised by the FCA, and never recommend specific investments. Capital at risk. Past performance is not a guide to future returns. The value of investments can fall as well as rise.