# SparkChange Physical Carbon EUA ETC (CO2P)

**Page:** https://fundology.uk/fund/co2p · ISIN XS2353177293

## 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, CO2P (SparkChange Physical Carbon EUA ETC, ISIN XS2353177293) closed at £70.11 on the London Stock Exchange. Its ongoing charge is 0.89% a year (about £89 on £10,000). Over the five years to 13/11/2026 its total return was +26.7%, or −1.1% after UK CPIH inflation.

## Summary

SparkChange Physical Carbon EUA ETC is an exchange-traded commodity (ETC) from HANetf, launched in 2021. It tracks the No Underlying Index. You buy and sell it through a share-dealing account or platform during stock-market hours, like a share. Its ongoing charge is 0.89% a year — about £89 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: **£70.11** (13/11/2026).

## Key facts

| Fact | Value |
|---|---|
| Ticker (LSE) | CO2P |
| ISIN | XS2353177293 |
| Also listed as | CO2 (London Stock Exchange, euros), CO2U (London Stock Exchange, US dollars), FCO2 (Xetra, euros) |
| Category | Other |
| Type | ETC |
| Provider | HANetf |
| Income | Accumulating |
| Ongoing charge | 0.89% a year (£89 per £10,000) |
| Fund size | £55.9m |
| Launched | 2021 |
| Domicile | Ireland |
| UK reporting fund status | Yes — on HMRC’s list of reporting funds (list of 02/11/2026); reporting fund since 01/04/2021 |

## 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 | +4.29% | +0.60% | income reinvested |
| 3 years | +8.03% | -2.40% | income reinvested |
| 5 years | +26.74% | -1.07% | income reinvested |

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

## Calendar-year returns

Calendar-year returns of SparkChange Physical Carbon EUA ETC in pounds (price, with income reinvested in the fund): 2022 +7.3%, 2023 −7.9%, 2024 −9.8%, 2025 +21.5%; 2026 to 13/11/2026 −3.1%. Returns of SparkChange Physical Carbon EUA ETC in pounds (price, with income reinvested in the fund) over the 12 months to 30/09/2026: +4.1%; to 30/09/2025: +24.6%; to 30/09/2024: −22.5%; to 30/09/2023: +19.2%.

| Year | Return | After CPIH inflation | Measured as |
|---|---|---|---|
| 2022 | +7.3% | -1.8% | Price |
| 2023 | -7.9% | -11.5% | Price |
| 2024 | -9.8% | -12.9% | Price |
| 2025 | +21.5% | +17.3% | Price |
| 2026 to 13/11/2026 | -3.1% | -6.2% | Price |

## Risk metrics

| Window | Volatility | Max drawdown |
|---|---|---|
| 1 year | 23.92% | -26.42% |
| 3 years | 29.86% | -36.88% |
| 5 years | 39.11% | -49.96% |

## Largest fall

Volatility of SparkChange Physical Carbon EUA ETC in pounds, annualised from weekly returns to 13/11/2026: 23.9% over 1 year, 29.9% over 3 years, 39.1% over 5 years. Largest fall in the price of SparkChange Physical Carbon EUA ETC since November 2021, in pounds: −50.0% from 10/03/2023 to 23/02/2024. The lowest 12-month return of SparkChange Physical Carbon EUA ETC in pounds (price, with income reinvested in the fund) since November 2021 was −48.4% (12 months to 23/02/2024); the highest was +45.2% (12 months to 03/03/2023). On 13/11/2026 the price of SparkChange Physical Carbon EUA ETC was 17.3% below its highest weekly close since November 2021 (10/03/2023), in pounds.

## Charges compared with similar funds

Ongoing charge of SparkChange Physical Carbon EUA ETC 0.89% a year. Compared on 14/11/2026, 9 of the 68 other other funds charge more, 0 the same and 59 less (share classes counted once).

## Charges & eligibility

- Ongoing charges figure (OCF): **0.89%** 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.

## Questions people ask

**What is the ongoing charge of CO2P?**

The ongoing charge of CO2P is 0.89% a year — about £89 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 SparkChange Physical Carbon EUA ETC 0.89% a year. Compared on 14/11/2026, 9 of the 68 other other funds charge more, 0 the same and 59 less (share classes counted once).

**Is CO2P accumulating or distributing?**

CO2P 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 CO2P?**

The ISIN of CO2P is XS2353177293. An ISIN identifies one exact share class of a fund; CO2P is its ticker on the London Stock Exchange. The same share class is also listed as CO2 (London Stock Exchange, euros), CO2U (London Stock Exchange, US dollars) and FCO2 (Xetra, euros).

**What were CO2P’s returns in each of the last five years?**

Calendar-year returns of CO2P in pounds (price, with income reinvested in the fund): 2022 +7.3%, 2023 −7.9%, 2024 −9.8%, 2025 +21.5%; 2026 to 13/11/2026 −3.1%. Past performance is not a guide to future returns.

**How has CO2P done after inflation?**

Over the five years to 13/11/2026 CO2P’s total return was +26.7%, or −1.1% 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.