# Multi Units LU - Amundi Fed Funds US Dollar Cash (FEDG) **Page:** https://fundology.uk/fund/fedg · ISIN LU1233598447 ## 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, FEDG (Multi Units LU - Amundi Fed Funds US Dollar Cash, ISIN LU1233598447) closed at £96.52 on the London Stock Exchange. Its ongoing charge is 0.10% a year (about £10 on £10,000). Over the five years to 13/11/2026 its total return was +22.8%, or −4.1% after UK CPIH inflation. ## Summary Multi Units LU - Amundi Fed Funds US Dollar Cash is an exchange-traded fund (ETF) from Amundi, launched in 2015. It tracks the Solactive Fed Funds Effective Rate Index. You buy and sell it through a share-dealing account or platform during stock-market hours, like a share. Its ongoing charge is 0.1% a year — about £10 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: **£96.52** (13/11/2026). ## Key facts | Fact | Value | |---|---| | Ticker (LSE) | FEDG | | ISIN | LU1233598447 | | Also listed as | FEDF (London Stock Exchange, US dollars), B8TC (Xetra, euros) | | Category | Cash-like & short-term | | Type | ETF | | Provider | Amundi | | Tracks | Solactive Fed Funds Effective Rate Index | | Income | Accumulating | | Ongoing charge | 0.10% a year (£10 per £10,000) | | Fund size | £99.4m | | Launched | 2015 | | Domicile | Luxembourg | | UK reporting fund status | Yes — on HMRC’s list of reporting funds (list of 02/11/2026); reporting fund since 05/06/2015 | ## 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 | +2.41% | -1.22% | income reinvested | | 3 years | +4.45% | -5.63% | income reinvested | | 5 years | +22.83% | -4.13% | income reinvested | Returns: as reported (delayed data). Inflation: UK CPIH, latest month published. ## Calendar-year returns Calendar-year returns of Multi Units LU - Amundi Fed Funds US Dollar Cash in pounds (price, with income reinvested in the fund): 2022 +13.7%, 2023 −0.6%, 2024 +8.1%, 2025 −4.1%; 2026 to 13/11/2026 +5.3%. Returns of Multi Units LU - Amundi Fed Funds US Dollar Cash in pounds (price, with income reinvested in the fund) over the 12 months to 30/09/2026: +5.2%; to 30/09/2025: +3.9%; to 30/09/2024: −4.0%; to 30/09/2023: −4.4%; to 30/09/2022: +22.4%. | Year | Return | After CPIH inflation | Measured as | |---|---|---|---| | 2022 | +13.7% | +4.1% | Price | | 2023 | -0.6% | -4.6% | Price | | 2024 | +8.1% | +4.4% | Price | | 2025 | -4.1% | -7.4% | Price | | 2026 to 13/11/2026 | +5.3% | +1.9% | Price | ## Risk metrics | Window | Volatility | Max drawdown | |---|---|---| | 1 year | 5.74% | -3.91% | | 3 years | 6.45% | -9.43% | | 5 years | 7.65% | -13.67% | ## Largest fall Volatility of Multi Units LU - Amundi Fed Funds US Dollar Cash in pounds, annualised from weekly returns to 13/11/2026: 5.7% over 1 year, 6.4% over 3 years, 7.6% over 5 years. Largest fall in the price of Multi Units LU - Amundi Fed Funds US Dollar Cash since November 2021, in pounds: −13.7% from 23/09/2022 to 14/07/2023. The lowest 12-month return of Multi Units LU - Amundi Fed Funds US Dollar Cash in pounds (price, with income reinvested in the fund) since January 2021 was −6.7% (12 months to 22/09/2023); the highest was +25.8% (12 months to 23/09/2022). On 13/11/2026 the price of Multi Units LU - Amundi Fed Funds US Dollar Cash was 1.0% below its highest weekly close since November 2021 (17/01/2025), in pounds. ## Charges compared with similar funds Ongoing charge of Multi Units LU - Amundi Fed Funds US Dollar Cash 0.10% a year. Compared on 14/11/2026, 11 of the 43 other cash-like and short-term funds charge more, 14 the same and 18 less (share classes counted once). ## Charges & eligibility - Ongoing charges figure (OCF): **0.10%** 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. ## What it holds FEDG is a swap-based (synthetic) fund: it gets the return of the index it tracks through a swap. Its published holdings, as of 10/11/2026, are the substitute basket of securities the fund holds as collateral, not the companies in that index. ### Top holdings Largest positions (as of 10/11/2026), as a percentage of the whole fund: | # | Holding | Ticker | Weight | |---|---|---|---| | 1 | EUROPEAN UNIO 3.25% 04Jul34 | — | 24.68% | | 2 | EUROPEAN UNIO 2.5% 14Oct30 | — | 11.21% | | 3 | SOCIETE NATIO 3.125% Nov27 | — | 6.94% | | 4 | AGENCE FRANCA 3.625% Sep33 EMTN | — | 5.43% | | 5 | EXPORT DEV CA 0.5% Feb27 EMTN | — | 4.86% | | 6 | CDP FINANCIAL 1.125% Apr27 | — | 4.14% | | 7 | CASSA DEPOSIT 3.25% Jun31 EMTN | — | 2.71% | | 8 | MAGNUM ICC FI 3.25% Nov31 EMTN | — | 2.23% | | 9 | OERSTED AS 1.5% Nov29 | — | 1.86% | | 10 | ONTARIO PROVI 0.375% Apr27 EMTN | — | 1.83% | The 136 holdings on record (of 152 reported): https://fundology.uk/fund/fedg/holdings ## Questions people ask **What is the ongoing charge of FEDG?** The ongoing charge of FEDG is 0.10% a year — about £10 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 Multi Units LU - Amundi Fed Funds US Dollar Cash 0.10% a year. Compared on 14/11/2026, 11 of the 43 other cash-like and short-term funds charge more, 14 the same and 18 less (share classes counted once). **What does FEDG track?** FEDG tracks the Solactive Fed Funds Effective Rate Index. **Is FEDG accumulating or distributing?** FEDG 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 FEDG?** The ISIN of FEDG is LU1233598447. An ISIN identifies one exact share class of a fund; FEDG is its ticker on the London Stock Exchange. The same share class is also listed as FEDF (London Stock Exchange, US dollars) and B8TC (Xetra, euros). **What does FEDG hold?** FEDG is a swap-based (synthetic) fund: it gets the return of the index it tracks through a swap. Its published holdings, as of 10/11/2026, are the substitute basket of securities the fund holds as collateral, not the companies in that index. **What were FEDG’s returns in each of the last five years?** Calendar-year returns of FEDG in pounds (price, with income reinvested in the fund): 2022 +13.7%, 2023 −0.6%, 2024 +8.1%, 2025 −4.1%; 2026 to 13/11/2026 +5.3%. Past performance is not a guide to future returns. **How has FEDG done after inflation?** Over the five years to 13/11/2026 FEDG’s total return was +22.8%, or −4.1% after UK CPIH inflation. Past performance is not a guide to future returns. ## Fund documents - [Fund page at Amundi](https://www.amundietf.co.uk/en/professional/products/fixed-income/amundi-usd-fed-funds-rate-ucits-etf-acc/lu1233598447) - Links checked 12/10/2026. --- We show information. We are not financial advisers, not authorised by the FCA, and never recommend specific investments. Capital at risk. Past performance is not a guide to future returns. The value of investments can fall as well as rise.