# iShares MSCI UK Small Cap UCITS ETF (CUKS)

**Page:** https://fundology.uk/fund/cuks · ISIN IE00B3VWLG82

## 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, CUKS (iShares MSCI UK Small Cap UCITS ETF, ISIN IE00B3VWLG82) closed at £292.83 on the London Stock Exchange. Its ongoing charge is 0.50% a year (about £50 on £10,000). Over the five years to 13/11/2026 its total return was +14.3%, or −10.8% after UK CPIH inflation.

## Summary

iShares MSCI UK Small Cap UCITS ETF is an exchange-traded fund (ETF) from iShares, launched in 2009. It tracks the MSCI United Kingdom 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 0.5% a year — about £50 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: **£292.83** (13/11/2026).

## Key facts

| Fact | Value |
|---|---|
| Ticker (LSE) | CUKS |
| ISIN | IE00B3VWLG82 |
| Also listed as | SXRD (Xetra, euros) |
| Category | Smaller companies |
| Type | ETF |
| Provider | iShares |
| Tracks | MSCI United Kingdom Small Cap |
| Income | Accumulating |
| Ongoing charge | 0.50% a year (£50 per £10,000) |
| Fund size | £94.7m |
| Launched | 2009 |
| Domicile | Ireland |
| UK reporting fund status | Yes — on HMRC’s list of reporting funds (list of 02/11/2026); reporting fund since 22/03/2010 |

## 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 | +13.73% | +9.70% | income reinvested |
| 3 years | +50.72% | +36.17% | income reinvested |
| 5 years | +14.26% | -10.82% | income reinvested |

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

## Calendar-year returns

Calendar-year returns of iShares MSCI UK Small Cap UCITS ETF in pounds (price, with income reinvested in the fund): 2022 −22.8%, 2023 +9.8%, 2024 +5.7%, 2025 +14.8%; 2026 to 13/11/2026 +11.2%. Returns of iShares MSCI UK Small Cap UCITS ETF in pounds (price, with income reinvested in the fund) over the 12 months to 30/09/2026: +10.9%; to 30/09/2025: +7.3%; to 30/09/2024: +20.3%; to 30/09/2023: +11.5%; to 30/09/2022: −29.0%.

| Year | Return | After CPIH inflation | Measured as |
|---|---|---|---|
| 2022 | -22.8% | -29.3% | Price |
| 2023 | +9.8% | +5.4% | Price |
| 2024 | +5.7% | +2.1% | Price |
| 2025 | +14.8% | +10.9% | Price |
| 2026 to 13/11/2026 | +11.2% | +7.7% | Price |

## Risk metrics

| Window | Volatility | Max drawdown |
|---|---|---|
| 1 year | 14.55% | -11.99% |
| 3 years | 14.19% | -13.60% |
| 5 years | 16.34% | -30.71% |

## Largest fall

Volatility of iShares MSCI UK Small Cap UCITS ETF in pounds, annualised from weekly returns to 13/11/2026: 14.6% over 1 year, 14.2% over 3 years, 16.3% over 5 years. Largest fall in the price of iShares MSCI UK Small Cap UCITS ETF since November 2021, in pounds: −30.5% from 31/12/2021 to 14/10/2022. The lowest 12-month return of iShares MSCI UK Small Cap UCITS ETF in pounds (price, with income reinvested in the fund) since January 2021 was −29.6% (12 months to 14/10/2022); the highest was +28.8% (12 months to 18/10/2024). On 13/11/2026 the price of iShares MSCI UK Small Cap UCITS ETF was 0.6% below its highest weekly close since November 2021 (28/08/2026), in pounds.

## Charges compared with similar funds

Ongoing charge of iShares MSCI UK Small Cap UCITS ETF 0.50% a year. Compared on 14/11/2026, 7 of the 36 other smaller-company funds charge more, 0 the same and 29 less (share classes counted once).

## Charges & eligibility

- Ongoing charges figure (OCF): **0.50%** per year
- 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 06/11/2026, CUKS holds 193 positions, according to its published holdings. The largest is Imi at 1.96% of the fund; the ten largest make up 16.0%.

### Top holdings

Largest positions (as of 06/11/2026), as a percentage of the whole fund:

| # | Holding | Ticker | Weight |
|---|---|---|---|
| 1 | Imi | [IMI](https://fundology.uk/stock/IMI) | 1.96% |
| 2 | Hiscox | [HSX](https://fundology.uk/stock/HSX) | 1.80% |
| 3 | Weir | [WEIR](https://fundology.uk/stock/WEIR) | 1.80% |
| 4 | St. James's Place | [STJ](https://fundology.uk/stock/STJ) | 1.71% |
| 5 | DCC Energy | [DCC](https://fundology.uk/stock/DCC) | 1.58% |
| 6 | Games Workshop Group | [GAW](https://fundology.uk/stock/GAW) | 1.56% |
| 7 | ICG | [ICG](https://fundology.uk/stock/ICG) | 1.44% |
| 8 | Croda International | [CRDA](https://fundology.uk/stock/CRDA) | 1.39% |
| 9 | Howden Joinery Group | [HWDN](https://fundology.uk/stock/HWDN) | 1.36% |
| 10 | Whitbread | [WTB](https://fundology.uk/stock/WTB) | 1.36% |

## 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 06/11/2026.

| Sector | Weight |
|---|---|
| Industrials | 21.8% |
| Financials | 19.4% |
| Consumer Discretionary | 17.9% |
| Real Estate | 10.3% |
| Communication Services | 7.8% |
| Materials | 6.9% |
| Consumer Staples | 3.8% |
| Health Care | 3.5% |
| Other sectors | 8.6% |

### By type of asset

Added up from the fund’s published holdings, as of 06/11/2026.

| Type of asset | Weight |
|---|---|
| Equity | 99.5% |
| Cash and money market | 0.5% |

All 195 holdings: https://fundology.uk/fund/cuks/holdings

## Questions people ask

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

The ongoing charge of CUKS is 0.50% a year — about £50 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 iShares MSCI UK Small Cap UCITS ETF 0.50% a year. Compared on 14/11/2026, 7 of the 36 other smaller-company funds charge more, 0 the same and 29 less (share classes counted once).

**What does CUKS track?**

CUKS tracks the MSCI United Kingdom Small Cap.

**Is CUKS accumulating or distributing?**

CUKS 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 CUKS?**

The ISIN of CUKS is IE00B3VWLG82. An ISIN identifies one exact share class of a fund; CUKS is its ticker on the London Stock Exchange. The same share class is also listed as SXRD (Xetra, euros).

**What does CUKS hold?**

As of 06/11/2026, CUKS holds 193 positions, according to its published holdings. The largest is Imi at 1.96% of the fund; the ten largest make up 16.0%. Its ten largest holdings are Imi (1.96%), Hiscox (1.80%), Weir (1.80%), St. James's Place (1.71%), DCC Energy (1.58%), Games Workshop Group (1.56%), ICG (1.44%), Croda International (1.39%), Howden Joinery Group (1.36%) and Whitbread (1.36%).

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

Calendar-year returns of CUKS in pounds (price, with income reinvested in the fund): 2022 −22.8%, 2023 +9.8%, 2024 +5.7%, 2025 +14.8%; 2026 to 13/11/2026 +11.2%. Past performance is not a guide to future returns.

**How has CUKS done after inflation?**

Over the five years to 13/11/2026 CUKS’s total return was +14.3%, or −10.8% after UK CPIH inflation. Past performance is not a guide to future returns.

## Fund documents

- [Fund page at iShares](https://www.ishares.com/uk/individual/en/products/253474/ishares-msci-uk-small-cap-ucits-etf)
- [Key investor information document (KIID)](https://www.ishares.com/gls-download/literature/kiid/ucits_kiid-ishares-msci-uk-small-cap-ucits-etf-gbp-acc-gb-ie00b3vwlg82-en.pdf)
- [Factsheet](https://www.ishares.com/gls-download/literature/fact-sheet/csuks-ishares-msci-uk-small-cap-ucits-etf-fund-fact-sheet-en-gb.pdf)
- Links checked 12/10/2026.

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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.