# BH Macro Ltd USD (BHMU)

**Source:** https://fundology.uk/fund/bhmu · ISIN GG00BQBFY479 · Data: TradingView (LSE closes and returns, delayed), issuer documents, ONS CPIH, FCA FIRDS

## 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 30/09/2026, BHMU (BH Macro Ltd USD, ISIN GG00BQBFY479) closed at $4.25 on the London Stock Exchange. Over the five years to 30/09/2026 its price changed by +17.7% (income paid out is not included), or −6.9% 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: **$4.25** (30/09/2026).

## Key facts

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

## Past returns (periods to 30/09/2026)

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

| Window | Return | After CPIH inflation | Measured as |
|---|---|---|---|
| 1 year | +7.27% | +4.35% | price only |
| 3 years | +1.45% | -7.89% | price only |
| 5 years | +17.72% | -6.91% | price only |

Returns: Fundology, from recorded daily closes. Inflation: ONS 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 +11.2%, 2025 −5.0%; 2026 to 30/09/2026 +2.1%. 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: +2.0%; to 30/09/2024: −3.0%; to 30/09/2023: −31.2%; to 30/09/2022: +62.1%.

| Year | Return | After CPIH inflation | Measured as |
|---|---|---|---|
| 2022 | +26.3% | +15.6% | Price |
| 2023 | -21.1% | -24.3% | Price |
| 2024 | +11.2% | +7.4% | Price |
| 2025 | -5.0% | -8.2% | Price |
| 2026 to 30/09/2026 | +2.1% | -0.7% | Price |

## Risk metrics

| Window | Volatility | Max drawdown |
|---|---|---|
| 1 year | 13.76% | -8.19% |
| 3 years | 15.55% | -18.20% |
| 5 years | 20.17% | -43.90% |

## Largest fall

Volatility of BH Macro Ltd USD in pounds, annualised from weekly returns to 30/09/2026: 13.8% over 1 year, 15.6% over 3 years, 20.2% over 5 years. Largest fall in the price of BH Macro Ltd USD since October 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 30/09/2026 the price of BH Macro Ltd USD was 33.9% below its highest weekly close since October 2021 (23/09/2022), in pounds.

## Charges & eligibility

- ISA eligible: yes
- SIPP eligible: yes

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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.