ETF · iShares
GAAA iShares Global AAA-AA Govt Bond UCITS ETF Acc
ISIN IE00BZ171348London Stock Exchange: GAAABlackRock, Inc.
- Government bonds
- ETF
- ISA
- SIPP
- Accumulating
Latest close
LSE$4.63
on
- Ongoing charge
- 0.20% a year
- Fund size
- £27.9m
As of , at least 15 min delayed
At a glance
As of 13/11/2026, GAAA (iShares Global AAA-AA Govt Bond UCITS ETF Acc, ISIN IE00BZ171348) closed at $4.63 on the London Stock Exchange. Its ongoing charge is 0.20% a year (about £20 on £10,000). Over the five years to 13/11/2026 its total return was −13.4%, or −32.4% after UK CPIH inflation.
Past returns
- 1 year to 13/11/2026
- −3.0%
- −6.4% after inflation (UK CPIH)
- 3 years to 13/11/2026
- +3.0%
- −6.9% after inflation (UK CPIH)
- 5 years to 13/11/2026
- −13.4%
- −32.4% after inflation (UK CPIH)
£1,000 put in five years ago would have been worth about £866 on 13/11/2026 — about £676 in today’s spending power, once price rises are taken out. Past performance is not a guide to future returns.
Returns: as reported (delayed data). Inflation: UK CPIH, latest month published.
How we work it out:ReturnsReturns after inflationTotal returnReal returnCPIH
Calendar-year and 12-month returns
Calendar-year returns of iShares Global AAA-AA Govt Bond UCITS ETF Acc in pounds (price, with income reinvested in the fund): 2022 −11.0%, 2023 +2.4%, 2024 −3.9%, 2025 +2.9%; 2026 to 13/11/2026 −2.2%. Returns of iShares Global AAA-AA Govt Bond UCITS ETF Acc in pounds (price, with income reinvested in the fund) over the 12 months to 30/09/2026: −2.7%; to 30/09/2025: +1.7%; to 30/09/2024: +4.3%; to 30/09/2023: −7.7%; to 30/09/2022: −8.9%.
| Year | Return | After inflation | Return shown as a bar |
|---|---|---|---|
| to | −2.2% | −5.3% | |
| to | +2.9% | −0.7% | |
| to | −3.9% | −7.2% | |
| +2.4% | −1.7% | ||
| −11.0% | −18.5% |
| 12 months to | Return | After inflation |
|---|---|---|
| from | −2.7% | −6.1% |
| from | +1.7% | −2.3% |
| from | +4.3% | +1.6% |
| from | −7.7% | −13.2% |
| from | −8.9% | −16.2% |
As of , inflation: UK CPIH
How we work it out:Calendar-year returnsWhat a calendar-year return isAccumulating and distributing
Risk: volatility and largest fall
Volatility (annualised)
6.7%over 5 years
| 1 year | 5.1% |
|---|---|
| 3 years | 5.8% |
| 5 years | 6.7% |
Annualised from weekly returns. Higher means bumpier.
- Largest fall since November 2021
- −18.3%
- From to
- Lowest 12-month return
- −13.0%
- 12 months to
- Highest 12-month return
- +6.0%
- 12 months to
- Below its highest weekly close since November 2021
- 14.8%
- High of , latest
In words: Volatility of iShares Global AAA-AA Govt Bond UCITS ETF Acc in pounds, annualised from weekly returns to 13/11/2026: 5.1% over 1 year, 5.8% over 3 years, 6.7% over 5 years. Largest fall in the price of iShares Global AAA-AA Govt Bond UCITS ETF Acc since November 2021, in pounds: −18.3% from 10/12/2021 to 18/08/2023. The lowest 12-month return of iShares Global AAA-AA Govt Bond UCITS ETF Acc in pounds (price, with income reinvested in the fund) since January 2021 was −13.0% (12 months to 09/12/2022); the highest was +6.0% (12 months to 09/08/2024). On 13/11/2026 the price of iShares Global AAA-AA Govt Bond UCITS ETF Acc was 14.8% below its highest weekly close since November 2021 (10/12/2021), in pounds.
As of , price, with income reinvested in the fund
How we work it out:Risk figuresFallsVolatilityLargest fall
Charges compared with similar funds
- Ongoing charge
- 0.20%
- a year
- On £10,000
- £20
- a year, roughly
- Over five years
- £100
- of £10,000, before growth
- 219 charge less
- 30 the same
- 62 charge more
Ongoing charge of iShares Global AAA-AA Govt Bond UCITS ETF Acc 0.20% a year. Compared on 14/11/2026, 62 of the 311 other government bond funds charge more, 30 the same and 219 less (share classes counted once).
As of
A lower charge is not a promise of a higher return: what the fund holds matters more.
Read more:Ongoing charge (OCF)OCF and TERFee dragHow charges add up
In plain English
iShares Global AAA-AA Govt Bond UCITS ETF Acc is an exchange-traded fund (ETF) from iShares, launched in 2018.
It tracks the Bloomberg Global Government AAA-AA Capped Bond Index - USD - Benchmark TR Net.
You buy and sell it through a share-dealing account or platform during stock-market hours, like a share.
Its ongoing charge is 0.2% a year — about £20 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.
Government bonds: Loans to governments, such as UK gilts and US Treasuries. They pay interest; their prices move when interest rates change.
Terms:ETFIndex fundUCITSAccumulating or incomeShare classISIN
Key facts
- Ticker
- GAAA
- ISIN
- IE00BZ171348
- Provider
- iShares
- Structure
- ETF
- An exchange-traded fund: bought and sold on the stock exchange through the day, like a share.
- Income
- Accumulating
- Income is reinvested inside the fund, so it shows up as a rising price rather than cash paid to you.
- Ongoing charge
- 0.20% a year · about £20 on £10,000
- Fund size
- £27.9m
- Launched
- Domicile
- Ireland
- UK reporting fund status
- Yes — on HMRC’s list of reporting funds (list of )
- Reporting fund since . What reporting fund status means
- Can usually be held in
- ISA and SIPP
- Check with your platform: each decides which funds it offers.
- Currency hedged
- No
- Price currency
- USD
- Category
- Government bonds
Price chart
Over the last year, the closing price went from $4.79 on 14/11/2025 to $4.63 on 13/11/2026 (−3.2%). The lowest close shown was $4.63 on 09/10/2026 and the highest $4.98 on 27/02/2026.
One close a week. Before 06/08/2026 the closes are from the weekly price history for this listing; from then on, the closing prices we have recorded.
As of , at least 15 min delayed
Five years of prices, and after inflation
257 weekly closes, from 12/11/2021 to 13/11/2026. The same history in November 2026 pounds, adjusted with CPIH inflation.
Create a free account to see the 5-year price chart and the after-inflation chart
Sign-up takes an email address. There is no card to enter and nothing to pay.
How we work it out:Prices and returnsNAV and price
What it holds
- Holdings
- 702
- 708 reported in all
- Ten largest
- 6.5%
- of the whole fund
- Effective number of holdings
- 336
- As concentrated as this many equal-sized holdings (how it is worked out)
- Largest holding
- 0.7%
- Canada (Government Of) 2.75% 01/03/2031
Top 10 holdings
| Rank# | Holding | Weight as a percentage of the fund |
|---|---|---|
| 1 | Canada (Government Of) 2.75% 01/03/2031Treasury | 0.73% |
| 2 | AUSTRALIA (COMMONWEALTH OF) RegS 2.75% 21/11/2028Treasury | 0.70% |
| 3 | AUSTRALIA (COMMONWEALTH OF) RegS 2.50% 21/05/2030Treasury | 0.68% |
| 4 | AUSTRALIA (COMMONWEALTH OF) RegS 2.75% 21/11/2029Treasury | 0.66% |
| 5 | Canada (Government Of) 0.50% 01/12/2030Treasury | 0.65% |
| 6 | Canada (Government Of) 1.25% 01/06/2030Treasury | 0.63% |
| 7 | Canada (Government Of) 3.25% 01/12/2035Treasury | 0.63% |
| 8 | AUSTRALIA (COMMONWEALTH OF) RegS 1.00% 21/11/2031Treasury | 0.62% |
| 9 | GERMANY (FEDERAL REPUBLIC OF) RegS 2.30% 15/02/2033Treasury | 0.61% |
| 10 | Canada (Government Of) 3.25% 01/06/2036Treasury | 0.60% |
As of , holdings as published
Where it invests
The portfolio by sector, country and type of asset, as a share of the whole fund. Bonds, cash and positions without a classification are shown as they come, not guessed.
By sector
- Treasury99.5%
- Cash and derivatives0.5%
By country
- Germany20.1%
- Canada15.7%
- Australia11.3%
- United States10.0%
- United Kingdom9.9%
- Netherlands7.9%
- Austria6.8%
- Finland3.4%
- Other countries14.8%
By type of asset
- Bonds99.5%
- Cash and money market0.5%
See the full portfolio
Every holding with search and filters, the whole breakdown by sector, country and type of asset, a map of the 100 largest and what changed since .
More of the portfolio
The fund publishes 708 holdings; the ten largest make up 6.5% of it. The fund's portfolio is also split by currency, maturity and credit quality.
Create a free account to see the full holdings list and the currency, maturity and credit-quality breakdowns
Sign-up takes an email address. There is no card to enter and nothing to pay.
Holdings:Compare what it holds with another fundHoldings overlapHow overlap is measured
Funds tracking the same index
2 funds track Bloomberg Global Government AAA-AA Capped Bond Index - USD - Benchmark TR Net, this one included and share classes counted once; their ongoing charges range from 0.20% to 0.20% a year (13/11/2026).
| Fund | Charge | 1 year | 3 years | 5 years |
|---|---|---|---|---|
| iShares Global AAA-AA Govt Bond UCITS ETFDistributing · 0.20% a year | 0.20% | −3.5% | +3.0% | −13.6% |
| iShares Global AAA-AA Govt Bond UCITS ETF AccThis fundAccumulating · 0.20% a year | 0.20% | −3.0% | +3.0% | −13.4% |
As of
Bloomberg Global Government AAA-AA Capped Bond funds compared: charges, sizes and share classes
Read more:Index fundsTracking differenceHow funds are compared
Other versions of this fund
Risk and return in depth
Sharpe, Sortino and Calmar ratios
Sharpe, Sortino and Calmar ratios over 1, 3 and 5 years, from weekly returns in pounds.
With a free accountRolling returns
The full range of 248 rolling 12-month returns since January 2021, and of 144 rolling three-year returns, in pounds, with how often they were above zero.
With a free accountLargest falls and recoveries
The largest fall since November 2021, in pounds, with how many weeks it took to reach its low and to recover.
With a free account
Create a free account to see the risk ratios, every rolling return and each large fall and its recovery
Sign-up takes an email address. There is no card to enter and nothing to pay.
Moves compared with a similar fund
Correlation and beta of weekly returns in pounds against iShares Core UK Gilts UCITS ETF, over the three years to 13/11/2026 (149 weeks).
Pro
Pro — currently by invitation
Pro includes moves against a comparable fund
Pro is open by invitation while it is being built. There is nothing to buy. To ask about access, email [email protected].
Questions people ask
What is the ongoing charge of GAAA?
The ongoing charge of GAAA is 0.20% a year — about £20 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 Global AAA-AA Govt Bond UCITS ETF Acc 0.20% a year. Compared on 14/11/2026, 62 of the 311 other government bond funds charge more, 30 the same and 219 less (share classes counted once).
What does GAAA track?
GAAA tracks the Bloomberg Global Government AAA-AA Capped Bond Index - USD - Benchmark TR Net.
Is GAAA accumulating or distributing?
GAAA 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 GAAA?
The ISIN of GAAA is IE00BZ171348. An ISIN identifies one exact share class of a fund; GAAA is its ticker on the London Stock Exchange.
What does GAAA hold?
As of 06/11/2026, GAAA holds 708 positions, according to its published holdings. The largest is Canada (Government Of) 2.75% 01/03/2031 at 0.73% of the fund; the ten largest make up 6.5%. Its ten largest holdings are Canada (Government Of) 2.75% 01/03/2031 (0.73%), AUSTRALIA (COMMONWEALTH OF) RegS 2.75% 21/11/2028 (0.70%), AUSTRALIA (COMMONWEALTH OF) RegS 2.50% 21/05/2030 (0.68%), AUSTRALIA (COMMONWEALTH OF) RegS 2.75% 21/11/2029 (0.66%), Canada (Government Of) 0.50% 01/12/2030 (0.65%), Canada (Government Of) 1.25% 01/06/2030 (0.63%), Canada (Government Of) 3.25% 01/12/2035 (0.63%), AUSTRALIA (COMMONWEALTH OF) RegS 1.00% 21/11/2031 (0.62%), GERMANY (FEDERAL REPUBLIC OF) RegS 2.30% 15/02/2033 (0.61%) and Canada (Government Of) 3.25% 01/06/2036 (0.60%).
What were GAAA’s returns in each of the last five years?
Calendar-year returns of GAAA in pounds (price, with income reinvested in the fund): 2022 −11.0%, 2023 +2.4%, 2024 −3.9%, 2025 +2.9%; 2026 to 13/11/2026 −2.2%. Past performance is not a guide to future returns.
How has GAAA done after inflation?
Over the five years to 13/11/2026 GAAA’s total return was −13.4%, or −32.4% after UK CPIH inflation. Past performance is not a guide to future returns.
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Fund documents and methods
- Fund documents
- Fund page at iShares · Key investor information document (KIID) · Factsheet (links checked )
Methodology:ReturnsCategoriesAll methods
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