# Bloomberg Europe Defense -UCITS ETF- Capitalisation (GUGB)

**Page:** https://fundology.uk/fund/gugb · ISIN LU3047998896

## 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, GUGB (Bloomberg Europe Defense -UCITS ETF- Capitalisation, ISIN LU3047998896) closed at £8.97 on the London Stock Exchange. Its ongoing charge is 0.18% a year (about £18 on £10,000). Over the year to 13/11/2026 its total return was −1.4%, or −4.9% after UK CPIH inflation.

## Summary

Bloomberg Europe Defense -UCITS ETF- Capitalisation is an exchange-traded fund (ETF) from BNP Paribas, launched in 2025. It tracks the Bloomberg Europe Defense Select Index - EUR - 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 0.18% a year — about £18 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.

Latest close: **£8.97** (13/11/2026).

## Key facts

| Fact | Value |
|---|---|
| Ticker (LSE) | GUGB |
| ISIN | LU3047998896 |
| Also listed as | GUAR (London Stock Exchange, euros), GUAU (London Stock Exchange, US dollars), BJL8 (Xetra, euros) |
| Category | Single sectors |
| Type | ETF |
| Provider | BNP Paribas |
| Tracks | Bloomberg Europe Defense Select Index - EUR - Benchmark TR Net |
| Income | Accumulating |
| Ongoing charge | 0.18% a year (£18 per £10,000) |
| Fund size | £411m |
| Launched | 2025 |
| Domicile | Luxembourg |

## 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 | -1.41% | -4.90% | income reinvested |

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

## Charges compared with similar funds

Ongoing charge of Bloomberg Europe Defense -UCITS ETF- Capitalisation 0.18% a year. Compared on 14/11/2026, 115 of the 164 other single-sector funds charge more, 17 the same and 32 less (share classes counted once).

## Charges & eligibility

- Ongoing charges figure (OCF): **0.18%** 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, GUGB holds 37 positions, according to its published holdings. The largest is Airbus at 13.46% of the fund; the ten largest make up 84.2%.

### Top holdings

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

| # | Holding | Ticker | Weight |
|---|---|---|---|
| 1 | Airbus | [AIR](https://fundology.uk/stock/AIR) | 13.46% |
| 2 | Safran | [SAF](https://fundology.uk/stock/SAF) | 11.90% |
| 3 | Rolls-Royce | [RR.](https://fundology.uk/stock/RR.) | 10.48% |
| 4 | Rheinmetall | [RHM](https://fundology.uk/stock/RHM) | 8.95% |
| 5 | MTU Aero Engines | [MTX](https://fundology.uk/stock/MTX) | 7.59% |
| 6 | Saab · Class B | [SAAB_B](https://fundology.uk/stock/SAAB_B) | 7.33% |
| 7 | Thales | [HO](https://fundology.uk/stock/HO) | 6.88% |
| 8 | Leonardo | [LDO](https://fundology.uk/stock/LDO) | 6.71% |
| 9 | Kongsberg Gruppen | [KOG](https://fundology.uk/stock/KOG) | 5.52% |
| 10 | BAE Systems | [BA.](https://fundology.uk/stock/BA.) | 5.39% |

## Where it invests

Shares of the whole fund. Bonds, cash and positions without a classification are shown as they come, not guessed.

### By country

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

| Country | Weight |
|---|---|
| France | 23.8% |
| Germany | 20.9% |
| United Kingdom | 17.6% |
| Netherlands | 14.1% |
| Sweden | 7.9% |
| Italy | 7.8% |
| Norway | 5.6% |
| Spain | 2.1% |
| Other countries | 0.2% |

All 37 holdings: https://fundology.uk/fund/gugb/holdings

## Questions people ask

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

The ongoing charge of GUGB is 0.18% a year — about £18 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 Bloomberg Europe Defense -UCITS ETF- Capitalisation 0.18% a year. Compared on 14/11/2026, 115 of the 164 other single-sector funds charge more, 17 the same and 32 less (share classes counted once).

**What does GUGB track?**

GUGB tracks the Bloomberg Europe Defense Select Index - EUR - Benchmark TR Net.

**Is GUGB accumulating or distributing?**

GUGB 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 GUGB?**

The ISIN of GUGB is LU3047998896. An ISIN identifies one exact share class of a fund; GUGB is its ticker on the London Stock Exchange. The same share class is also listed as GUAR (London Stock Exchange, euros), GUAU (London Stock Exchange, US dollars) and BJL8 (Xetra, euros).

**What does GUGB hold?**

As of 11/11/2026, GUGB holds 37 positions, according to its published holdings. The largest is Airbus at 13.46% of the fund; the ten largest make up 84.2%. Its ten largest holdings are Airbus (13.46%), Safran (11.90%), Rolls-Royce (10.48%), Rheinmetall (8.95%), MTU Aero Engines (7.59%), Saab · Class B (7.33%), Thales (6.88%), Leonardo (6.71%), Kongsberg Gruppen (5.52%) and BAE Systems (5.39%).

**How has GUGB done after inflation?**

Over the year to 13/11/2026 GUGB’s total return was −1.4%, or −4.9% after UK CPIH inflation. Past performance is not a guide to future returns.

## Fund documents

- [Fund page at BNP Paribas Asset Management](https://www.bnpparibas-am.com/en-gb/fundsheet/equity/bnp-paribas-easy-bloomberg-europe-defense-ucits-etf-c-lu3047998896)
- 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.