# Fidelity Global Corp Bond Research Enhanced PAB UCITS ETF Hedged USD (FSMU) **Page:** https://fundology.uk/fund/fsmu · ISIN IE0005E8N9I1 ## 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, FSMU (Fidelity Global Corp Bond Research Enhanced PAB UCITS ETF Hedged USD, ISIN IE0005E8N9I1) closed at $5.21 on the London Stock Exchange. Its ongoing charge is 0.30% a year (about £30 on £10,000). Over the three years to 13/11/2026 its total return was −2.3%, or −11.7% after UK CPIH inflation. ## Summary Fidelity Global Corp Bond Research Enhanced PAB UCITS ETF Hedged USD is an exchange-traded fund (ETF) from Fidelity, launched in 2022. 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 0.3% a year — about £30 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 to US dollars, not to the pound: it aims to remove most of the effect of exchange-rate moves against US dollars, so a holder who counts in pounds still has currency risk. Latest close: **$5.21** (13/11/2026). ## Key facts | Fact | Value | |---|---| | Ticker (LSE) | FSMU | | ISIN | IE0005E8N9I1 | | Category | Corporate & other bonds | | Type | ETF | | Provider | Fidelity | | Income | Distributing | | Ongoing charge | 0.30% a year (£30 per £10,000) | | Fund size | £4.8m | | Launched | 2022 | | Domicile | Ireland | | UK reporting fund status | Yes — on HMRC’s list of reporting funds (list of 02/11/2026); reporting fund since 24/10/2022 | ## 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 | -1.25% | -4.75% | income reinvested | | 3 years | -2.28% | -11.71% | income reinvested | Returns: as reported (delayed data). Inflation: UK CPIH, latest month published. ## Calendar-year returns Calendar-year returns of Fidelity Global Corp Bond Research Enhanced PAB UCITS ETF Hedged USD in pounds (price only, income paid out not included): 2023 −2.0%, 2024 +0.5%, 2025 −6.3%; 2026 to 13/11/2026 −2.9%. Returns of Fidelity Global Corp Bond Research Enhanced PAB UCITS ETF Hedged USD in pounds (price only, income paid out not included) over the 12 months to 30/09/2026: −5.4%; to 30/09/2025: −1.3%; to 30/09/2024: −1.3%. | Year | Return | After CPIH inflation | Measured as | |---|---|---|---| | 2023 | -2.0% | -5.9% | Price | | 2024 | +0.5% | -3.0% | Price | | 2025 | -6.3% | -9.5% | Price | | 2026 to 13/11/2026 | -2.9% | -6.0% | Price | ## Risk metrics | Window | Volatility | Max drawdown | |---|---|---| | 1 year | 5.94% | -8.01% | | 3 years | 6.96% | -12.33% | ## Largest fall Volatility of Fidelity Global Corp Bond Research Enhanced PAB UCITS ETF Hedged USD in pounds, annualised from weekly returns to 13/11/2026: 5.9% over 1 year, 7.0% over 3 years. Largest fall in the price of Fidelity Global Corp Bond Research Enhanced PAB UCITS ETF Hedged USD since October 2022, in pounds: −14.9% from 06/01/2023 to 11/09/2026. The lowest 12-month return of Fidelity Global Corp Bond Research Enhanced PAB UCITS ETF Hedged USD in pounds (price only, income paid out not included) since October 2022 was −8.5% (12 months to 30/01/2026); the highest was +4.1% (12 months to 09/08/2024). On 13/11/2026 the price of Fidelity Global Corp Bond Research Enhanced PAB UCITS ETF Hedged USD was 13.1% below its highest weekly close since October 2022 (06/01/2023), in pounds. ## Charges compared with similar funds Ongoing charge of Fidelity Global Corp Bond Research Enhanced PAB UCITS ETF Hedged USD 0.30% a year. Compared on 14/11/2026, 140 of the 427 other corporate and other bond funds charge more, 22 the same and 265 less (share classes counted once). ## Charges & eligibility - Ongoing charges figure (OCF): **0.30%** 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 FSMU?** The ongoing charge of FSMU is 0.30% a year — about £30 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 Fidelity Global Corp Bond Research Enhanced PAB UCITS ETF Hedged USD 0.30% a year. Compared on 14/11/2026, 140 of the 427 other corporate and other bond funds charge more, 22 the same and 265 less (share classes counted once). **Is FSMU accumulating or distributing?** FSMU is distributing: income is paid out to holders as cash, usually a few times a year. It pays out quarterly. **What is the ISIN of FSMU?** The ISIN of FSMU is IE0005E8N9I1. An ISIN identifies one exact share class of a fund; FSMU is its ticker on the London Stock Exchange. **What were FSMU’s returns in each of the last five years?** Calendar-year returns of FSMU in pounds (price only, income paid out not included): 2023 −2.0%, 2024 +0.5%, 2025 −6.3%; 2026 to 13/11/2026 −2.9%. Past performance is not a guide to future returns. **How has FSMU done after inflation?** Over the three years to 13/11/2026 FSMU’s total return was −2.3%, or −11.7% after UK CPIH inflation. Past performance is not a guide to future returns. --- 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.