# iShares $ Floating Rate Bond UCITS ETF GBP Hedged (Dist) (FLOS)

**Page:** https://fundology.uk/fund/flos · ISIN IE00BF7TPM11

## 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, FLOS (iShares $ Floating Rate Bond UCITS ETF GBP Hedged (Dist), ISIN IE00BF7TPM11) closed at £4.82 on the London Stock Exchange. Its ongoing charge is 0.12% a year (about £12 on £10,000). Over the five years to 13/11/2026 its total return was +23.2%, or −3.8% after UK CPIH inflation.

## Summary

iShares $ Floating Rate Bond UCITS ETF GBP Hedged (Dist) is an exchange-traded fund (ETF) from iShares, launched in 2017. It tracks the Bloomberg US Floating Rate Notes (<5 Y). You buy and sell it through a share-dealing account or platform during stock-market hours, like a share. Its ongoing charge is 0.12% a year — about £12 a year on every £10,000 invested, taken from the fund's value rather than billed to you. Income from its investments is paid out to holders as cash, usually a few times a year. It is currency-hedged: it aims to remove most of the effect of exchange-rate moves against the pound.

Latest close: **£4.82** (13/11/2026).

## Key facts

| Fact | Value |
|---|---|
| Ticker (LSE) | FLOS |
| ISIN | IE00BF7TPM11 |
| Category | Cash-like & short-term |
| Type | ETF |
| Provider | iShares |
| Tracks | Bloomberg US Floating Rate Notes (<5 Y) |
| Income | Distributing |
| Ongoing charge | 0.12% a year (£12 per £10,000) |
| Fund size | £75.4m |
| Launched | 2017 |
| Domicile | Ireland |
| UK reporting fund status | Yes — on HMRC’s list of reporting funds (list of 02/11/2026); reporting fund since 30/08/2017 |

## 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 | +4.25% | +0.56% | income reinvested |
| 3 years | +16.46% | +5.22% | income reinvested |
| 5 years | +23.19% | -3.84% | income reinvested |

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

## Calendar-year returns

Calendar-year returns of iShares $ Floating Rate Bond UCITS ETF GBP Hedged (Dist) in pounds (price only, income paid out not included): 2022 −0.7%, 2023 +0.4%, 2024 +0.2%, 2025 −0.3%; 2026 to 13/11/2026 +1.6%. Returns of iShares $ Floating Rate Bond UCITS ETF GBP Hedged (Dist) in pounds (price only, income paid out not included) over the 12 months to 30/09/2026: −0.5%; to 30/09/2025: −0.1%; to 30/09/2024: −0.1%; to 30/09/2023: +1.8%; to 30/09/2022: −0.8%.

| Year | Return | After CPIH inflation | Measured as |
|---|---|---|---|
| 2022 | -0.7% | -9.1% | Price |
| 2023 | +0.4% | -3.6% | Price |
| 2024 | +0.2% | -3.2% | Price |
| 2025 | -0.3% | -3.7% | Price |
| 2026 to 13/11/2026 | +1.6% | -1.6% | Price |

## Risk metrics

| Window | Volatility | Max drawdown |
|---|---|---|
| 1 year | 3.18% | -2.48% |
| 3 years | 3.81% | -3.17% |
| 5 years | 3.30% | -3.17% |

## Largest fall

Volatility of iShares $ Floating Rate Bond UCITS ETF GBP Hedged (Dist) in pounds, annualised from weekly returns to 13/11/2026: 3.2% over 1 year, 3.8% over 3 years, 3.3% over 5 years. Largest fall in the price of iShares $ Floating Rate Bond UCITS ETF GBP Hedged (Dist) since November 2021, in pounds: −3.2% from 10/05/2024 to 14/11/2025. The lowest 12-month return of iShares $ Floating Rate Bond UCITS ETF GBP Hedged (Dist) in pounds (price only, income paid out not included) since January 2021 was −1.9% (12 months to 11/04/2025); the highest was +2.3% (12 months to 10/11/2023). On 13/11/2026 the price of iShares $ Floating Rate Bond UCITS ETF GBP Hedged (Dist) was 1.0% below its highest weekly close since November 2021 (10/05/2024), in pounds.

## Charges compared with similar funds

Ongoing charge of iShares $ Floating Rate Bond UCITS ETF GBP Hedged (Dist) 0.12% a year. Compared on 14/11/2026, 7 of the 43 other cash-like and short-term funds charge more, 3 the same and 33 less (share classes counted once).

## Funds tracking the same index

5 funds track Bloomberg US Floating Rate Notes (<5 Y), this one included and share classes counted once; their ongoing charges range from 0.10% to 0.15% a year (13/11/2026).

| Fund | Ongoing charge | 1 year | 3 years | 5 years |
|---|---|---|---|---|
| iShares $ Floating Rate Bond UCITS ETF EUR Hedged (Dist) | 0.12% | -2.8% | +6.3% | — |
| iShares $ Floating Rate Bond UCITS ETF GBP Hedged (Dist) (this fund) | 0.12% | +4.3% | +16.5% | +23.2% |
| iShares USD Floating Rate Bond UCITS ETF Accum Hedged MXN | 0.15% | +5.3% | +18.1% | +83.4% |
| iShares USD Floating Rate Bond UCITS ETF Unhedged USD | 0.10% | +3.0% | +7.2% | +27.2% |
| iShares USD Floating Rate Bond UCITS ETF USD | 0.10% | +3.9% | +8.3% | +26.7% |

Returns are as reported, in pounds, income reinvested unless marked "(price)".

## Charges & eligibility

- Ongoing charges figure (OCF): **0.12%** 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, FLOS holds 561 positions, according to its published holdings. The largest is European Bank for Reconstruction A Mtn 4.27% 20/02/2028 at 1.15% of the fund; the ten largest make up 9.0%.

### Top holdings

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

| # | Holding | Ticker | Weight |
|---|---|---|---|
| 1 | European Bank for Reconstruction A Mtn 4.27% 20/02/2028 | — | 1.15% |
| 2 | European Bank for Reconstruction A Mtn 4.15% 16/02/2029 | — | 1.09% |
| 3 | International Bank for Reconstruct Mtn 4.37% 19/08/2027 | — | 1.01% |
| 4 | European Bank for Reconstruction A Mtn 4.34% 22/07/2030 | — | 0.90% |
| 5 | Inter-American Development Bank Mtn 4.15% 15/02/2029 | — | 0.81% |
| 6 | International Finance Corp Mtn 4.19% 28/08/2029 | — | 0.81% |
| 7 | Kommunalbanken As Mtn 144A 4.41% 03/03/2028 | — | 0.81% |
| 8 | International Bank for Reconstruct 4.23% 22/11/2028 | — | 0.80% |
| 9 | International Finance Corp Mtn 4.29% 28/08/2028 | — | 0.80% |
| 10 | Kommunalbanken As Mtn 144A 4.32% 09/04/2029 | — | 0.79% |

## 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 |
|---|---|
| Banking | 47.1% |
| Supranational | 20.2% |
| Consumer Cyclical | 8.4% |
| Owned No Guarantee | 6.2% |
| Insurance | 4.5% |
| Capital Goods | 3.0% |
| Health Care | 2.8% |
| Communication Services | 1.4% |
| Other sectors | 6.5% |

### By country

As published for the fund, as of 06/11/2026.

| Country | Weight |
|---|---|
| United States | 35.6% |
| Supranational | 19.6% |
| Australia | 7.7% |
| Canada | 5.7% |
| Japan | 5.5% |
| United Kingdom | 5.0% |
| South Korea | 3.8% |
| Germany | 2.7% |
| Other countries | 14.4% |

### By type of asset

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

| Type of asset | Weight |
|---|---|
| Bonds | 99.4% |
| Cash and money market | 0.6% |

The 560 holdings on record (of 561 reported): https://fundology.uk/fund/flos/holdings

## Questions people ask

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

The ongoing charge of FLOS is 0.12% a year — about £12 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 $ Floating Rate Bond UCITS ETF GBP Hedged (Dist) 0.12% a year. Compared on 14/11/2026, 7 of the 43 other cash-like and short-term funds charge more, 3 the same and 33 less (share classes counted once).

**What does FLOS track?**

FLOS tracks the Bloomberg US Floating Rate Notes (<5 Y).

**Is FLOS accumulating or distributing?**

FLOS is distributing: income is paid out to holders as cash, usually a few times a year. It pays out semi-annual.

**What is the ISIN of FLOS?**

The ISIN of FLOS is IE00BF7TPM11. An ISIN identifies one exact share class of a fund; FLOS is its ticker on the London Stock Exchange.

**What does FLOS hold?**

As of 06/11/2026, FLOS holds 561 positions, according to its published holdings. The largest is European Bank for Reconstruction A Mtn 4.27% 20/02/2028 at 1.15% of the fund; the ten largest make up 9.0%. Its ten largest holdings are European Bank for Reconstruction A Mtn 4.27% 20/02/2028 (1.15%), European Bank for Reconstruction A Mtn 4.15% 16/02/2029 (1.09%), International Bank for Reconstruct Mtn 4.37% 19/08/2027 (1.01%), European Bank for Reconstruction A Mtn 4.34% 22/07/2030 (0.90%), Inter-American Development Bank Mtn 4.15% 15/02/2029 (0.81%), International Finance Corp Mtn 4.19% 28/08/2029 (0.81%), Kommunalbanken As Mtn 144A 4.41% 03/03/2028 (0.81%), International Bank for Reconstruct 4.23% 22/11/2028 (0.80%), International Finance Corp Mtn 4.29% 28/08/2028 (0.80%) and Kommunalbanken As Mtn 144A 4.32% 09/04/2029 (0.79%).

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

Calendar-year returns of FLOS in pounds (price only, income paid out not included): 2022 −0.7%, 2023 +0.4%, 2024 +0.2%, 2025 −0.3%; 2026 to 13/11/2026 +1.6%. Past performance is not a guide to future returns.

**How has FLOS done after inflation?**

Over the five years to 13/11/2026 FLOS’s total return was +23.2%, or −3.8% 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/290356/ishares-floating-rate-bond-ucits-etf)
- [Key investor information document (KIID)](https://www.ishares.com/gls-download/literature/kiid/ucits_kiid-ishares-floating-rate-bond-ucits-etf-gbp-hedged-dist-gb-ie00bf7tpm11-en.pdf)
- [Factsheet](https://www.ishares.com/gls-download/literature/fact-sheet/flos-ishares-floating-rate-bond-ucits-etf-fund-fact-sheet-en-gb.pdf)
- 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.