# iShares Global Inflation Linked Government Bond UCITS ETF Hedged GBP (GILG)

**Page:** https://fundology.uk/fund/gilg · ISIN IE00BMDBML89

## 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, GILG (iShares Global Inflation Linked Government Bond UCITS ETF Hedged GBP, ISIN IE00BMDBML89) closed at £4.43 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 +4.4%, or −18.5% after UK CPIH inflation.

## Summary

iShares III PLC - iShares Global Inflation Linked Government Bond UCITS ETF Hedged GBP is an exchange-traded fund (ETF) from iShares, launched in 2020. It tracks the Bloomberg World Govt Inflation-Linked. 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 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: **£4.43** (13/11/2026).

## Key facts

| Fact | Value |
|---|---|
| Ticker (LSE) | GILG |
| ISIN | IE00BMDBML89 |
| Category | Government bonds |
| Type | ETF |
| Provider | iShares |
| Tracks | Bloomberg World Govt Inflation-Linked |
| Income | Distributing |
| Ongoing charge | 0.20% a year (£20 per £10,000) |
| Fund size | £207m |
| Launched | 2020 |
| Domicile | Ireland |
| UK reporting fund status | Yes — on HMRC’s list of reporting funds (list of 02/11/2026); reporting fund since 12/11/2020 |

## 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 | -0.11% | -3.65% | income reinvested |
| 3 years | +8.61% | -1.88% | income reinvested |
| 5 years | +4.38% | -18.52% | income reinvested |

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

## Calendar-year returns

Calendar-year returns of iShares III PLC - iShares Global Inflation Linked Government Bond UCITS ETF Hedged GBP in pounds (price only, income paid out not included): 2022 −19.0%, 2023 +2.3%, 2024 −2.0%, 2025 +3.1%; 2026 to 13/11/2026 −1.3%. Returns of iShares III PLC - iShares Global Inflation Linked Government Bond UCITS ETF Hedged GBP in pounds (price only, income paid out not included) over the 12 months to 30/09/2026: −1.6%; to 30/09/2025: −0.7%; to 30/09/2024: +7.4%; to 30/09/2023: −3.7%; to 30/09/2022: −16.7%.

| Year | Return | After CPIH inflation | Measured as |
|---|---|---|---|
| 2022 | -19.0% | -25.8% | Price |
| 2023 | +2.3% | -1.8% | Price |
| 2024 | -2.0% | -5.3% | Price |
| 2025 | +3.1% | -0.4% | Price |
| 2026 to 13/11/2026 | -1.3% | -4.4% | Price |

## Risk metrics

| Window | Volatility | Max drawdown |
|---|---|---|
| 1 year | 3.67% | -4.20% |
| 3 years | 4.83% | -4.61% |
| 5 years | 7.41% | -24.60% |

## Largest fall

Volatility of iShares III PLC - iShares Global Inflation Linked Government Bond UCITS ETF Hedged GBP in pounds, annualised from weekly returns to 13/11/2026: 3.7% over 1 year, 4.8% over 3 years, 7.4% over 5 years. Largest fall in the price of iShares III PLC - iShares Global Inflation Linked Government Bond UCITS ETF Hedged GBP since November 2021, in pounds: −24.6% from 03/12/2021 to 14/10/2022. The lowest 12-month return of iShares III PLC - iShares Global Inflation Linked Government Bond UCITS ETF Hedged GBP in pounds (price only, income paid out not included) since January 2021 was −22.4% (12 months to 14/10/2022); the highest was +8.2% (12 months to 04/10/2024). On 13/11/2026 the price of iShares III PLC - iShares Global Inflation Linked Government Bond UCITS ETF Hedged GBP was 18.9% below its highest weekly close since November 2021 (03/12/2021), in pounds.

## Charges compared with similar funds

Ongoing charge of iShares III PLC - iShares Global Inflation Linked Government Bond UCITS ETF Hedged GBP 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).

## Funds tracking the same index

5 funds track Bloomberg World Govt Inflation-Linked, this one included and share classes counted once; their ongoing charges range from 0.20% to 0.25% a year (13/11/2026).

| Fund | Ongoing charge | 1 year | 3 years | 5 years |
|---|---|---|---|---|
| iShares Global Inflation Linked Govt Bond UCITS ETF | 0.22% | -2.2% | +1.3% | -15.7% |
| iShares Global Inflation Linked Govt Bond UCITS ETF EUR Hedged Dist | 0.25% | -6.9% | -0.9% | -21.8% |
| iShares III PLC - iShares Global Inflation Linked Government Bond UCITS ETF Hedged GBP (this fund) | 0.20% | -0.1% | +8.6% | +4.4% |
| Xtrackers II Global Inflation-Linked Bond UCITS ETF Acc | 0.20% | -2.3% | +2.0% | -14.9% |
| Xtrackers II Global Inflation-Linked Bond UCITS ETF EUR Hedged Acc | 0.25% | -7.0% | -0.8% | -21.1% |

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

## Charges & eligibility

- Ongoing charges figure (OCF): **0.20%** 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, GILG holds 155 positions, according to its published holdings. The largest is Treasury (Cpi) Note 2.13% 15/01/2035 at 1.89% of the fund; the ten largest make up 16.8%.

### Top holdings

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

| # | Holding | Ticker | Weight |
|---|---|---|---|
| 1 | Treasury (Cpi) Note 2.13% 15/01/2035 | — | 1.89% |
| 2 | Treasury (Cpi) Note 0.50% 15/01/2028 | — | 1.73% |
| 3 | Treasury (Cpi) Note 1.88% 15/01/2036 | — | 1.71% |
| 4 | Treasury (Cpi) Note 1.13% 15/10/2030 | — | 1.68% |
| 5 | Treasury (Cpi) Note 1.88% 15/07/2034 | — | 1.68% |
| 6 | Treasury (Cpi) Note 1.63% 15/04/2030 | — | 1.64% |
| 7 | Treasury (Cpi) Note 1.25% 15/04/2031 | — | 1.63% |
| 8 | Treasury (Cpi) Note 1.88% 15/07/2035 | — | 1.63% |
| 9 | Treasury (Cpi) Note 0.13% 15/01/2031 | — | 1.59% |
| 10 | Treasury (Cpi) Note 0.63% 15/07/2032 | — | 1.59% |

## 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 |
|---|---|
| Treasury | 99.7% |
| Cash and derivatives | 0.3% |

### By country

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

| Country | Weight |
|---|---|
| United States | 52.2% |
| United Kingdom | 22.0% |
| France | 8.3% |
| Italy | 7.0% |
| Spain | 3.3% |
| Germany | 1.9% |
| Japan | 1.6% |
| Canada | 1.3% |
| Other countries | 2.4% |

### By type of asset

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

| Type of asset | Weight |
|---|---|
| Bonds | 99.7% |
| Cash and money market | 0.3% |

All 157 holdings: https://fundology.uk/fund/gilg/holdings

## Questions people ask

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

The ongoing charge of GILG 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 III PLC - iShares Global Inflation Linked Government Bond UCITS ETF Hedged GBP 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 GILG track?**

GILG tracks the Bloomberg World Govt Inflation-Linked.

**Is GILG accumulating or distributing?**

GILG 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 GILG?**

The ISIN of GILG is IE00BMDBML89. An ISIN identifies one exact share class of a fund; GILG is its ticker on the London Stock Exchange.

**What does GILG hold?**

As of 06/11/2026, GILG holds 155 positions, according to its published holdings. The largest is Treasury (Cpi) Note 2.13% 15/01/2035 at 1.89% of the fund; the ten largest make up 16.8%. Its ten largest holdings are Treasury (Cpi) Note 2.13% 15/01/2035 (1.89%), Treasury (Cpi) Note 0.50% 15/01/2028 (1.73%), Treasury (Cpi) Note 1.88% 15/01/2036 (1.71%), Treasury (Cpi) Note 1.13% 15/10/2030 (1.68%), Treasury (Cpi) Note 1.88% 15/07/2034 (1.68%), Treasury (Cpi) Note 1.63% 15/04/2030 (1.64%), Treasury (Cpi) Note 1.25% 15/04/2031 (1.63%), Treasury (Cpi) Note 1.88% 15/07/2035 (1.63%), Treasury (Cpi) Note 0.13% 15/01/2031 (1.59%) and Treasury (Cpi) Note 0.63% 15/07/2032 (1.59%).

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

Calendar-year returns of GILG in pounds (price only, income paid out not included): 2022 −19.0%, 2023 +2.3%, 2024 −2.0%, 2025 +3.1%; 2026 to 13/11/2026 −1.3%. Past performance is not a guide to future returns.

**How has GILG done after inflation?**

Over the five years to 13/11/2026 GILG’s total return was +4.4%, or −18.5% 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/316335/ishares-global-inflation-linked-govt-bond-ucits-etf)
- [Key investor information document (KIID)](https://www.ishares.com/gls-download/literature/kiid/ucits_kiid-ishares-global-inflation-linked-govt-bond-ucits-etf-gbp-hedged-dist-gb-ie00bmdbml89-en.pdf)
- [Factsheet](https://www.ishares.com/gls-download/literature/fact-sheet/gilg-ishares-global-inflation-linked-govt-bond-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.