# iShares MSCI EMU Small Cap UCITS ETF (CES1)

**Source:** https://fundology.uk/fund/ces1 · ISIN IE00B3VWMM18 · 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, CES1 (iShares MSCI EMU Small Cap UCITS ETF, ISIN IE00B3VWMM18) closed at £308.93 on the London Stock Exchange. Its ongoing charge is 0.58% a year (about £58 on £10,000). Over the five years to 30/09/2026 its total return was +32.7%, or +3.7% after UK CPIH inflation.

## Summary

iShares MSCI EMU Small Cap UCITS ETF is an exchange-traded fund (ETF) from iShares, launched in 2009. It tracks the MSCI EMU Small Cap. You buy and sell it through a share-dealing account or platform during stock-market hours, like a share. Its ongoing charge is 0.58% a year — about £58 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: **£308.93** (30/09/2026).

## Key facts

| Fact | Value |
|---|---|
| Ticker (LSE) | CES1 |
| ISIN | IE00B3VWMM18 |
| Category | Smaller companies |
| Type | ETF |
| Provider | iShares |
| Tracks | MSCI EMU Small Cap |
| Income | Accumulating |
| Ongoing charge | 0.58% a year (£58 per £10,000) |
| Fund size | £544m |
| Launched | 2009 |
| Domicile | Ireland |

## 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 | +10.42% | +6.95% | income reinvested |
| 3 years | +45.50% | +31.30% | income reinvested |
| 5 years | +32.66% | +3.70% | income reinvested |

Returns: TradingView (delayed data). Inflation: ONS CPIH, latest month published.

## Charges compared with similar funds

Ongoing charge of iShares MSCI EMU Small Cap UCITS ETF 0.58% a year, as of 01/10/2026: 3 of the 32 other smaller-company funds charge more, 1 the same and 28 less (share classes counted once).

## Funds tracking the same index

2 funds track MSCI EMU Small Cap, this one included and share classes counted once; their ongoing charges range from 0.40% to 0.58% a year (30/09/2026).

| Fund | Ongoing charge | 1 year | 3 years | 5 years |
|---|---|---|---|---|
| iShares MSCI EMU Small Cap UCITS ETF (this fund) | 0.58% | +10.4% | +45.5% | +32.7% |
| UBS (Lux) Fund Solutions SICAV - UBS MSCI EMU Small Cap UCITS ETF EUR dis- Distribution | 0.40% | +10.6% | +46.6% | +34.3% |

Returns are the data vendor’s, in pounds, income reinvested unless marked "(price)".

## Charges & eligibility

- Ongoing charges figure (OCF): **0.58%** per year
- ISA eligible: yes
- SIPP eligible: yes

## Top holdings

Largest positions (as of 29/09/2026):

| Holding | Weight |
|---|---|
| Gaztransport & Technigaz | 1.48% |
| thyssenkrupp | 1.34% |
| Spie | 1.19% |
| Edenred | 1.14% |
| Aedifica | 1.10% |
| Lottomatica Group | 1.10% |
| Ackermans & Van Haaren | 1.06% |
| Konecranes | 1.06% |
| Saipem | 1.04% |
| Imcd | 1.02% |

## Where it invests

Shares of the whole fund. Bonds, cash and positions the source does not classify are shown as they come, not guessed.

### By sector

As published by iShares, as of 29/09/2026.

| Sector | Weight |
|---|---|
| Industrials | 27.4% |
| Materials | 12.1% |
| Consumer Discretionary | 11.1% |
| Financials | 10.7% |
| Information Technology | 8.6% |
| Real Estate | 6.8% |
| Energy | 6.2% |
| Communication Services | 5.2% |
| Other sectors | 11.9% |

### By country

As published by iShares, as of 29/09/2026.

| Country | Weight |
|---|---|
| Germany | 22.9% |
| France | 21.1% |
| Italy | 14.7% |
| Netherlands | 8.8% |
| Belgium | 8.6% |
| Spain | 8.4% |
| Finland | 6.2% |
| Austria | 5.3% |
| Other countries | 4.0% |

### By type of asset

Added up from the holdings iShares publishes, as of 29/09/2026.

| Type of asset | Weight |
|---|---|
| Equity | 99.3% |
| Cash and money market | 0.7% |

All 379 holdings: https://fundology.uk/fund/ces1/holdings

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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.