ETF · HSBC
HCGG China Government Local Bond UCITS ETF Accum-ETFSHGBP- GBP
ISIN IE0009PACXU3London Stock Exchange: HCGGHSBC Holdings Plc
- Government bonds
- ETF
- ISA
- SIPP
- Distributing
- GBP hedged
Latest close
LSE£11.51
on
- Ongoing charge
- 0.60% a year
- Fund size
- £491k
As of , at least 15 min delayed
At a glance
As of 13/11/2026, HCGG (China Government Local Bond UCITS ETF Accum-ETFSHGBP- GBP, ISIN IE0009PACXU3) closed at £11.51 on the London Stock Exchange. Its ongoing charge is 0.60% a year (about £60 on £10,000). Over the three years to 13/11/2026 its total return was +8.3%, or −2.2% after UK CPIH inflation.
Past returns
- 1 year to 13/11/2026
- +6.4%
- +2.6% after inflation (UK CPIH)
- 3 years to 13/11/2026
- +8.3%
- −2.2% after inflation (UK CPIH)
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 China Government Local Bond UCITS ETF Accum-ETFSHGBP- GBP in pounds (price only, income paid out not included): 2024 +8.8%, 2025 −0.3%; 2026 to 13/11/2026 +3.4%. Returns of China Government Local Bond UCITS ETF Accum-ETFSHGBP- GBP in pounds (price only, income paid out not included) over the 12 months to 30/09/2026: +3.4%; to 30/09/2025: +3.4%; to 30/09/2024: +5.8%.
| Year | Return | After inflation | Return shown as a bar |
|---|---|---|---|
| to | +3.4% | +0.1% | |
| to | −0.3% | −3.8% | |
| to | +8.8% | +5.1% |
| 12 months to | Return | After inflation |
|---|---|---|
| from | +3.4% | −0.2% |
| from | +3.4% | −0.7% |
| from | +5.8% | +3.1% |
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)
2.7%over 3 years
| 1 year | 1.7% |
|---|---|
| 3 years | 2.7% |
Annualised from weekly returns. Higher means bumpier.
- Largest fall since July 2023
- −2.8%
- From to
- Lowest 12-month return
- −0.3%
- 12 months to
- Highest 12-month return
- +8.5%
- 12 months to
- Below its highest weekly close since July 2023
- 0.2%
- High of , latest
In words: Volatility of China Government Local Bond UCITS ETF Accum-ETFSHGBP- GBP in pounds, annualised from weekly returns to 13/11/2026: 1.7% over 1 year, 2.7% over 3 years. Largest fall in the price of China Government Local Bond UCITS ETF Accum-ETFSHGBP- GBP since July 2023, in pounds: −2.8% from 31/01/2025 to 21/03/2025. The lowest 12-month return of China Government Local Bond UCITS ETF Accum-ETFSHGBP- GBP in pounds (price only, income paid out not included) since July 2023 was −0.3% (12 months to 02/01/2026); the highest was +8.5% (12 months to 03/01/2025). On 13/11/2026 the price of China Government Local Bond UCITS ETF Accum-ETFSHGBP- GBP was 0.2% below its highest weekly close since July 2023 (06/11/2026), in pounds.
As of , price only — income paid out is not included
How we work it out:Risk figuresFallsVolatilityLargest fall
Charges compared with similar funds
- Ongoing charge
- 0.60%
- a year
- On £10,000
- £60
- a year, roughly
- Over five years
- £296
- of £10,000, before growth
- 309 charge less
- 2 the same
- 0 charge more
Ongoing charge of China Government Local Bond UCITS ETF Accum-ETFSHGBP- GBP 0.60% a year. Compared on 14/11/2026, 0 of the 311 other government bond funds charge more, 2 the same and 309 less (share classes counted once).
As of
A lower charge is not a promise of a higher return: what the fund holds matters more.
As of
Read more:Ongoing charge (OCF)OCF and TERFee dragHow charges add up
In plain English
China Government Local Bond UCITS ETF Accum-ETFSHGBP- GBP is an exchange-traded fund (ETF) from HSBC, launched in 2023.
It tracks the Bloomberg China Treasury + Policy Bank Index.
You buy and sell it through a share-dealing account or platform during stock-market hours, like a share.
Its ongoing charge is 0.6% a year — about £60 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.
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 incomeCurrency hedgingShare classISIN
Key facts
- Ticker
- HCGG
- ISIN
- IE0009PACXU3
- Provider
- HSBC
- Structure
- ETF
- An exchange-traded fund: bought and sold on the stock exchange through the day, like a share.
- Income
- Distributing, paid semi-annual
- Income is paid out to holders as cash, usually a few times a year.
- Ongoing charge
- 0.60% a year · about £60 on £10,000
- Fund size
- £491k
- 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
- Yes, to pounds
- Price currency
- Pounds (GBP)
- Category
- Government bonds
Price chart
Over the last year, the closing price went from £11.11 on 14/11/2025 to £11.51 on 13/11/2026 (+3.6%). The lowest close shown was £11.07 on 05/12/2025 and the highest £11.54 on 06/11/2026.
One close a week. Before 14/08/2026 the closes are from the weekly price history for this listing; from then on, the closing prices we have recorded. Price only — income paid out is not included, so the line can end below the total return above.
As of , at least 15 min delayed
Five years of prices, and after inflation
172 weekly closes, from 14/07/2023 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
Funds tracking the same index
5 funds track Bloomberg China Treasury + Policy Bank Index, this one included and share classes counted once; their ongoing charges range from 0.35% to 0.60% a year (13/11/2026).
| Fund | Charge | 1 year | 3 years | 5 years |
|---|---|---|---|---|
| China Government Local Bond UCITS ETF Accum-ETFC- USDAccumulating · 0.60% a year | 0.60% | +9.5% | +4.7% | Not reported |
| China Government Local Bond UCITS ETF Accum-ETFCH- USDAccumulating · Currency hedged · 0.60% a year | 0.60% | +5.1% | Not reported | Not reported |
| China Government Local Bond UCITS ETF Accum-ETFSHGBP- GBPThis fundDistributing · Currency hedged · 0.60% a year | 0.60% | +6.4% | +8.3% | Not reported |
| iShares China CNY Bond UCITS ETF Hedged GBPDistributing · Currency hedged · 0.40% a year | 0.40% | +5.2% | +21.7% | +7.6% |
| iShares China CNY Bond UCITS ETF USDDistributing · 0.35% a year | 0.35% | +8.9% | +14.0% | +17.7% |
As of
Bloomberg China Treasury + Policy Bank 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 and 3 years, from weekly returns in pounds.
With a free accountRolling returns
The full range of 120 rolling 12-month returns since July 2023, in pounds, with how often they were above zero.
With a free accountLargest falls and recoveries
The largest fall since July 2023, 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 (151 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 HCGG?
The ongoing charge of HCGG is 0.60% a year — about £60 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 China Government Local Bond UCITS ETF Accum-ETFSHGBP- GBP 0.60% a year. Compared on 14/11/2026, 0 of the 311 other government bond funds charge more, 2 the same and 309 less (share classes counted once).
What does HCGG track?
HCGG tracks the Bloomberg China Treasury + Policy Bank Index.
Is HCGG accumulating or distributing?
HCGG is distributing: income is paid out to holders as cash, usually a few times a year. It pays out semi-annual.
What is the ISIN of HCGG?
The ISIN of HCGG is IE0009PACXU3. An ISIN identifies one exact share class of a fund; HCGG is its ticker on the London Stock Exchange.
What were HCGG’s returns in each of the last five years?
Calendar-year returns of HCGG in pounds (price only, income paid out not included): 2024 +8.8%, 2025 −0.3%; 2026 to 13/11/2026 +3.4%. Past performance is not a guide to future returns.
How has HCGG done after inflation?
Over the three years to 13/11/2026 HCGG’s total return was +8.3%, or −2.2% 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 HSBC Asset Management · Key investor information document (KIID) · Factsheet (links checked )
Methodology:ReturnsCategoriesAll methods
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