# Amundi Core Global Government Bond UCITS ETF GBP Hedged Dist (GOVG) **Page:** https://fundology.uk/fund/govg · ISIN LU2355200796 ## 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, GOVG (Amundi Core Global Government Bond UCITS ETF GBP Hedged Dist, ISIN LU2355200796) closed at £43.29 on the London Stock Exchange. Its ongoing charge is 0.15% a year (about £15 on £10,000). Over the five years to 13/11/2026 its total return was +2.7%, or −19.8% after UK CPIH inflation. ## Summary Amundi Core Global Government Bond UCITS ETF GBP Hedged Dist is an exchange-traded fund (ETF) from Amundi, launched in 2021. It tracks the J.P. Morgan Government Bond Index Global (GBI Global) Index - EUR. You buy and sell it through a share-dealing account or platform during stock-market hours, like a share. Its ongoing charge is 0.15% a year — about £15 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: **£43.29** (13/11/2026). ## Key facts | Fact | Value | |---|---| | Ticker (LSE) | GOVG | | ISIN | LU2355200796 | | Category | Government bonds | | Type | ETF | | Provider | Amundi | | Tracks | J.P. Morgan Government Bond Index Global (GBI Global) Index - EUR | | Income | Distributing | | Ongoing charge | 0.15% a year (£15 per £10,000) | | Fund size | £20.4m | | Launched | 2021 | | Domicile | Luxembourg | | UK reporting fund status | Yes — on HMRC’s list of reporting funds (list of 02/11/2026); reporting fund since 01/10/2020 | ## 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 | -1.27% | -4.77% | income reinvested | | 3 years | +7.99% | -2.44% | income reinvested | | 5 years | +2.70% | -19.84% | income reinvested | Returns: as reported (delayed data). Inflation: UK CPIH, latest month published. ## Calendar-year returns Calendar-year returns of Amundi Core Global Government Bond UCITS ETF GBP Hedged Dist in pounds (price only, income paid out not included): 2022 −14.4%, 2023 +2.7%, 2024 −0.9%, 2025 +1.1%; 2026 to 13/11/2026 −1.0%. Returns of Amundi Core Global Government Bond UCITS ETF GBP Hedged Dist in pounds (price only, income paid out not included) over the 12 months to 30/09/2026: −4.4%; to 30/09/2025: −0.7%; to 30/09/2024: +6.6%; to 30/09/2023: −2.7%; to 30/09/2022: −12.9%. | Year | Return | After CPIH inflation | Measured as | |---|---|---|---| | 2022 | -14.4% | -21.6% | Price | | 2023 | +2.7% | -1.4% | Price | | 2024 | -0.9% | -4.3% | Price | | 2025 | +1.1% | -2.4% | Price | | 2026 to 13/11/2026 | -1.0% | -4.2% | Price | ## Risk metrics | Window | Volatility | Max drawdown | |---|---|---| | 1 year | 4.61% | -5.08% | | 3 years | 4.61% | -5.30% | | 5 years | 4.97% | -16.57% | ## Largest fall Volatility of Amundi Core Global Government Bond UCITS ETF GBP Hedged Dist in pounds, annualised from weekly returns to 13/11/2026: 4.6% over 1 year, 4.6% over 3 years, 5.0% over 5 years. Largest fall in the price of Amundi Core Global Government Bond UCITS ETF GBP Hedged Dist since November 2021, in pounds: −16.6% from 03/12/2021 to 20/10/2023. The lowest 12-month return of Amundi Core Global Government Bond UCITS ETF GBP Hedged Dist in pounds (price only, income paid out not included) since July 2021 was −14.4% (12 months to 30/12/2022); the highest was +6.8% (12 months to 04/10/2024). On 13/11/2026 the price of Amundi Core Global Government Bond UCITS ETF GBP Hedged Dist was 13.7% below its highest weekly close since November 2021 (03/12/2021), in pounds. ## Charges compared with similar funds Ongoing charge of Amundi Core Global Government Bond UCITS ETF GBP Hedged Dist 0.15% a year. Compared on 14/11/2026, 117 of the 311 other government bond funds charge more, 28 the same and 166 less (share classes counted once). ## Funds tracking the same index 2 funds track J.P. Morgan Government Bond Index Global (GBI Global) Index - EUR, this one included and share classes counted once; their ongoing charges range from 0.15% to 0.22% a year (13/11/2026). | Fund | Ongoing charge | 1 year | 3 years | 5 years | |---|---|---|---|---| | Amundi Core Global Government Bond UCITS ETF GBP Hedged Dist (this fund) | 0.15% | -1.3% | +8.0% | +2.7% | | Amundi Index Solutions - J.P. Morgan GBI Global Govies | 0.22% | -4.5% | -1.7% | -15.0% | Returns are as reported, in pounds, income reinvested unless marked "(price)". ## Charges & eligibility - Ongoing charges figure (OCF): **0.15%** 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 11/11/2026, GOVG holds 1,142 positions, according to its published holdings. The largest is UNITED ST TSY 4.25% 15May35 at 0.38% of the fund; the ten largest make up 3.7%. ### Top holdings Largest positions (as of 11/11/2026), as a percentage of the whole fund: | # | Holding | Ticker | Weight | |---|---|---|---| | 1 | UNITED ST TSY 4.25% 15May35 | — | 0.38% | | 2 | UNITED ST TSY 4.25% 15Nov34 | — | 0.38% | | 3 | UNITED ST TSY 4.625% 15Feb35 | — | 0.38% | | 4 | UNITED ST TSY 4.125% 15Feb36 | — | 0.37% | | 5 | UNITED ST TSY 4.375% 15May34 | — | 0.37% | | 6 | UNITED ST TSY 4.625% 15Aug36 | — | 0.37% | | 7 | UNITED ST TSY 1.625% 15May31 | — | 0.36% | | 8 | UNITED ST TSY 4% 15Nov35 | — | 0.36% | | 9 | UNITED ST TSY 4.25% 15Aug35 | — | 0.36% | | 10 | UNITED ST TSY 4.375% 15May36 | — | 0.36% | ## Where it invests Shares of the whole fund. Bonds, cash and positions without a classification are shown as they come, not guessed. ### By country As published for the fund, as of 04/11/2026. | Country | Weight | |---|---| | United States | 51.8% | | Japan | 14.6% | | United Kingdom | 6.5% | | France | 6.1% | | Italy | 5.6% | | Germany | 5.1% | | Spain | 3.7% | | Canada | 2.2% | | Other countries | 4.3% | The 1,131 holdings on record (of 1,142 reported): https://fundology.uk/fund/govg/holdings ## Questions people ask **What is the ongoing charge of GOVG?** The ongoing charge of GOVG is 0.15% a year — about £15 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 Amundi Core Global Government Bond UCITS ETF GBP Hedged Dist 0.15% a year. Compared on 14/11/2026, 117 of the 311 other government bond funds charge more, 28 the same and 166 less (share classes counted once). **What does GOVG track?** GOVG tracks the J.P. Morgan Government Bond Index Global (GBI Global) Index - EUR. **Is GOVG accumulating or distributing?** GOVG is distributing: income is paid out to holders as cash, usually a few times a year. It pays out annual. **What is the ISIN of GOVG?** The ISIN of GOVG is LU2355200796. An ISIN identifies one exact share class of a fund; GOVG is its ticker on the London Stock Exchange. **What does GOVG hold?** As of 11/11/2026, GOVG holds 1,142 positions, according to its published holdings. The largest is UNITED ST TSY 4.25% 15May35 at 0.38% of the fund; the ten largest make up 3.7%. Its ten largest holdings are UNITED ST TSY 4.25% 15May35 (0.38%), UNITED ST TSY 4.25% 15Nov34 (0.38%), UNITED ST TSY 4.625% 15Feb35 (0.38%), UNITED ST TSY 4.125% 15Feb36 (0.37%), UNITED ST TSY 4.375% 15May34 (0.37%), UNITED ST TSY 4.625% 15Aug36 (0.37%), UNITED ST TSY 1.625% 15May31 (0.36%), UNITED ST TSY 4% 15Nov35 (0.36%), UNITED ST TSY 4.25% 15Aug35 (0.36%) and UNITED ST TSY 4.375% 15May36 (0.36%). **What were GOVG’s returns in each of the last five years?** Calendar-year returns of GOVG in pounds (price only, income paid out not included): 2022 −14.4%, 2023 +2.7%, 2024 −0.9%, 2025 +1.1%; 2026 to 13/11/2026 −1.0%. Past performance is not a guide to future returns. **How has GOVG done after inflation?** Over the five years to 13/11/2026 GOVG’s total return was +2.7%, or −19.8% 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-core-global-government-bond-ucits-etf-gbp-hedged-dist/lu2355200796) - 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.