# Global Government Bond UCITS ETF -ETFSH- GBP (HGVG) **Page:** https://fundology.uk/fund/hgvg · ISIN IE000Q7EQ7R4 ## 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, HGVG (Global Government Bond UCITS ETF -ETFSH- GBP, ISIN IE000Q7EQ7R4) closed at £9.95 on the London Stock Exchange. Its ongoing charge is 0.10% a year (about £10 on £10,000). Over the three years to 13/11/2026 its total return was +5.5%, or −4.7% after UK CPIH inflation. ## Summary HSBC Global Funds ICAV - Global Government Bond UCITS ETF -ETFSH- GBP is an exchange-traded fund (ETF) from HSBC, launched in 2023. It tracks the FTSE WGBI (USD). You buy and sell it through a share-dealing account or platform during stock-market hours, like a share. Its ongoing charge is 0.1% a year — about £10 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: **£9.95** (13/11/2026). ## Key facts | Fact | Value | |---|---| | Ticker (LSE) | HGVG | | ISIN | IE000Q7EQ7R4 | | Category | Government bonds | | Type | ETF | | Provider | HSBC | | Tracks | FTSE WGBI (USD) | | Income | Distributing | | Ongoing charge | 0.10% a year (£10 per £10,000) | | Fund size | £473k | | Launched | 2023 | | Domicile | Ireland | | UK reporting fund status | Yes — on HMRC’s list of reporting funds (list of 02/11/2026); reporting fund since 01/01/2023 | ## 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 | +1.72% | -1.88% | income reinvested | | 3 years | +5.51% | -4.68% | income reinvested | Returns: as reported (delayed data). Inflation: UK CPIH, latest month published. ## Calendar-year returns Calendar-year returns of HSBC Global Funds ICAV - Global Government Bond UCITS ETF -ETFSH- GBP in pounds (price only, income paid out not included): 2024 −0.6%, 2025 +0.7%; 2026 to 13/11/2026 −3.2%. Returns of HSBC Global Funds ICAV - Global Government Bond UCITS ETF -ETFSH- GBP in pounds (price only, income paid out not included) over the 12 months to 30/09/2026: −4.4%; to 30/09/2025: −1.1%; to 30/09/2024: +6.6%. | Year | Return | After CPIH inflation | Measured as | |---|---|---|---| | 2024 | -0.6% | -4.0% | Price | | 2025 | +0.7% | -2.7% | Price | | 2026 to 13/11/2026 | -3.2% | -6.3% | Price | ## Risk metrics | Window | Volatility | Max drawdown | |---|---|---| | 1 year | 3.66% | -4.93% | | 3 years | 4.37% | -5.73% | ## Largest fall Volatility of HSBC Global Funds ICAV - Global Government Bond UCITS ETF -ETFSH- GBP in pounds, annualised from weekly returns to 13/11/2026: 3.7% over 1 year, 4.4% over 3 years. Largest fall in the price of HSBC Global Funds ICAV - Global Government Bond UCITS ETF -ETFSH- GBP since July 2023, in pounds: −5.7% from 13/09/2024 to 25/09/2026. The lowest 12-month return of HSBC Global Funds ICAV - Global Government Bond UCITS ETF -ETFSH- GBP in pounds (price only, income paid out not included) since July 2023 was −4.4% (12 months to 09/10/2026); the highest was +7.0% (12 months to 18/10/2024). On 13/11/2026 the price of HSBC Global Funds ICAV - Global Government Bond UCITS ETF -ETFSH- GBP was 4.5% below its highest weekly close since July 2023 (13/09/2024), in pounds. ## Charges compared with similar funds Ongoing charge of HSBC Global Funds ICAV - Global Government Bond UCITS ETF -ETFSH- GBP 0.10% a year. Compared on 14/11/2026, 184 of the 311 other government bond funds charge more, 39 the same and 88 less (share classes counted once). ## Funds tracking the same index 2 funds track FTSE WGBI (USD), this one included and share classes counted once; their ongoing charges range from 0.10% to 0.10% a year (13/11/2026). | Fund | Ongoing charge | 1 year | 3 years | 5 years | |---|---|---|---|---| | HSBC Global Funds ICAV - Global Government Bond UCITS ETF -ETFSH- GBP (this fund) | 0.10% | +1.7% | +5.5% | — | | Hsbc Global Government Bond Ucits ETF | 0.10% | -0.2% | -3.7% | — | Returns are as reported, in pounds, income reinvested unless marked "(price)". ## Charges & eligibility - Ongoing charges figure (OCF): **0.10%** 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. ## Questions people ask **What is the ongoing charge of HGVG?** The ongoing charge of HGVG is 0.10% a year — about £10 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 HSBC Global Funds ICAV - Global Government Bond UCITS ETF -ETFSH- GBP 0.10% a year. Compared on 14/11/2026, 184 of the 311 other government bond funds charge more, 39 the same and 88 less (share classes counted once). **What does HGVG track?** HGVG tracks the FTSE WGBI (USD). **Is HGVG accumulating or distributing?** HGVG 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 HGVG?** The ISIN of HGVG is IE000Q7EQ7R4. An ISIN identifies one exact share class of a fund; HGVG is its ticker on the London Stock Exchange. **What were HGVG’s returns in each of the last five years?** Calendar-year returns of HGVG in pounds (price only, income paid out not included): 2024 −0.6%, 2025 +0.7%; 2026 to 13/11/2026 −3.2%. Past performance is not a guide to future returns. **How has HGVG done after inflation?** Over the three years to 13/11/2026 HGVG’s total return was +5.5%, or −4.7% after UK CPIH inflation. Past performance is not a guide to future returns. ## Fund documents - [Fund page at HSBC Asset Management](https://www.assetmanagement.hsbc.co.uk/en/individual-investor/funds/ie000q7eq7r4) - [Key investor information document (KIID)](https://www.assetmanagement.hsbc.co.uk/api/v1/download/document/ie000q7eq7r4/gb/en/kiid) - [Factsheet](https://www.assetmanagement.hsbc.co.uk/api/v1/download/document/ie000q7eq7r4/gb/en/factsheet) - 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.