# BH Macro Ltd USD (BHMU)

**Page:** https://fundology.uk/fund/bhmu · ISIN GG00BQBFY479

## 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, BHMU (BH Macro Ltd USD, ISIN GG00BQBFY479) closed at $4.20 on the London Stock Exchange. Over the five years to 13/11/2026 its price changed by +12.5% (income paid out is not included), or −12.2% after UK CPIH inflation.

## Summary

BH Macro Ltd USD is an investment trust. You buy and sell it through a share-dealing account or platform during stock-market hours, like a share.

Latest close: **$4.20** (13/11/2026).

## Key facts

| Fact | Value |
|---|---|
| Ticker (LSE) | BHMU |
| ISIN | GG00BQBFY479 |
| Category | Investment trusts |
| Type | Investment trust |
| Domicile | Guernsey |

## 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 | +0.15% | -3.39% | price only |
| 3 years | -0.01% | -9.66% | price only |
| 5 years | +12.47% | -12.21% | price only |

Returns: worked out from recorded daily closes. Inflation: UK CPIH, latest month published.

## Calendar-year returns

Calendar-year returns of BH Macro Ltd USD in pounds (price only, income paid out not included): 2022 +26.3%, 2023 −21.1%, 2024 +13.3%, 2025 −6.1%; 2026 to 13/11/2026 +0.7%. Returns of BH Macro Ltd USD in pounds (price only, income paid out not included) over the 12 months to 30/09/2026: +7.3%; to 30/09/2025: +2.1%; to 30/09/2024: −3.0%; to 30/09/2023: −31.2%; to 30/09/2022: +61.0%.

| Year | Return | After CPIH inflation | Measured as |
|---|---|---|---|
| 2022 | +26.3% | +15.6% | Price |
| 2023 | -21.1% | -24.3% | Price |
| 2024 | +13.3% | +9.5% | Price |
| 2025 | -6.1% | -9.4% | Price |
| 2026 to 13/11/2026 | +0.7% | -2.5% | Price |

## Risk metrics

| Window | Volatility | Max drawdown |
|---|---|---|
| 1 year | 13.94% | -8.19% |
| 3 years | 15.55% | -18.20% |
| 5 years | 20.23% | -43.90% |

## Largest fall

Volatility of BH Macro Ltd USD in pounds, annualised from weekly returns to 13/11/2026: 13.9% over 1 year, 15.5% over 3 years, 20.2% over 5 years. Largest fall in the price of BH Macro Ltd USD since November 2021, in pounds: −43.9% from 23/09/2022 to 05/04/2024. The lowest 12-month return of BH Macro Ltd USD in pounds (price only, income paid out not included) since January 2021 was −37.0% (12 months to 22/09/2023); the highest was +79.3% (12 months to 23/09/2022). On 13/11/2026 the price of BH Macro Ltd USD was 34.4% below its highest weekly close since November 2021 (23/09/2022), in pounds.

## Charges & eligibility

- 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.

## Questions people ask

**What is the ISIN of BHMU?**

The ISIN of BHMU is GG00BQBFY479. An ISIN identifies one exact share class of a fund; BHMU is its ticker on the London Stock Exchange.

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

Calendar-year returns of BHMU in pounds (price only, income paid out not included): 2022 +26.3%, 2023 −21.1%, 2024 +13.3%, 2025 −6.1%; 2026 to 13/11/2026 +0.7%. Past performance is not a guide to future returns.

**How has BHMU done after inflation?**

Over the five years to 13/11/2026 BHMU’s price changed by +12.5% (income paid out is not included), or −12.2% after UK CPIH inflation. Past performance is not a guide to future returns.

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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.