# iShares EUR Corp Bond Large Cap UCITS ETF (IBCX)

**Source:** https://fundology.uk/fund/ibcx · ISIN IE0032523478 · Data: TradingView (LSE closes and returns, delayed), issuer documents and holdings (iShares), ONS CPIH, FCA FIRDS

## 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 01/10/2026, IBCX (iShares EUR Corp Bond Large Cap UCITS ETF, ISIN IE0032523478) closed at €120.44 on the London Stock Exchange. Its ongoing charge is 0.20% a year (about £20 on £10,000). Over the five years to 01/10/2026 its total return was −3.7%, or −24.7% after UK CPIH inflation.

## Summary

iShares EUR Corp Bond Large Cap UCITS ETF is an exchange-traded fund (ETF) from iShares, launched in 2003. It tracks the Markit iBoxx EUR Liquid Corporates Large Cap Total Return 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 0.2% 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.

Latest close: **€120.44** (01/10/2026).

## Key facts

| Fact | Value |
|---|---|
| Ticker (LSE) | IBCX |
| ISIN | IE0032523478 |
| Category | Corporate & other bonds |
| Type | ETF |
| Provider | iShares |
| Tracks | Markit iBoxx EUR Liquid Corporates Large Cap Total Return Index - EUR |
| Income | Distributing |
| Ongoing charge | 0.20% a year (£20 per £10,000) |
| Fund size | £1.1bn |
| Launched | 2003 |
| Domicile | Ireland |

## Past returns (periods to 01/10/2026)

After the fund's ongoing charges. "Income reinvested" is total return; "price only" leaves out income paid out. Real returns are after ONS CPIH inflation.

| Window | Return | After CPIH inflation | Measured as |
|---|---|---|---|
| 1 year | -2.99% | -6.03% | income reinvested |
| 3 years | +10.29% | -0.48% | income reinvested |
| 5 years | -3.66% | -24.69% | income reinvested |

Returns: TradingView (delayed data). Inflation: ONS CPIH, latest month published.

## Calendar-year returns

Calendar-year returns of iShares EUR Corp Bond Large Cap UCITS ETF in pounds (price only, income paid out not included): 2022 −10.1%, 2023 +2.7%, 2024 −3.7%, 2025 +4.7%; 2026 to 01/10/2026 −5.5%. Returns of iShares EUR Corp Bond Large Cap UCITS ETF in pounds (price only, income paid out not included) over the 12 months to 30/09/2026: −6.3%; to 30/09/2025: +5.1%; to 30/09/2024: +2.5%; to 30/09/2023: −1.6%; to 30/09/2022: −13.7%.

| Year | Return | After CPIH inflation | Measured as |
|---|---|---|---|
| 2022 | -10.1% | -17.7% | Price |
| 2023 | +2.7% | -1.4% | Price |
| 2024 | -3.7% | -6.9% | Price |
| 2025 | +4.7% | +1.1% | Price |
| 2026 to 01/10/2026 | -5.5% | -8.1% | Price |

## Risk metrics

| Window | Volatility | Max drawdown |
|---|---|---|
| 1 year | 4.56% | -7.71% |
| 3 years | 4.75% | -7.71% |
| 5 years | 6.09% | -16.26% |

## Largest fall

Volatility of iShares EUR Corp Bond Large Cap UCITS ETF in pounds, annualised from weekly returns to 01/10/2026: 4.6% over 1 year, 4.7% over 3 years, 6.1% over 5 years. Largest fall in the price of iShares EUR Corp Bond Large Cap UCITS ETF since October 2021, in pounds: −16.3% from 01/10/2021 to 14/10/2022. The lowest 12-month return of iShares EUR Corp Bond Large Cap UCITS ETF in pounds (price only, income paid out not included) since January 2021 was −14.9% (12 months to 17/06/2022); the highest was +6.4% (12 months to 07/11/2025). On 01/10/2026 the price of iShares EUR Corp Bond Large Cap UCITS ETF was 14.2% below its highest weekly close since October 2021 (01/10/2021), in pounds.

## Charges compared with similar funds

Ongoing charge of iShares EUR Corp Bond Large Cap UCITS ETF 0.20% a year, as of 02/10/2026: 208 of the 392 other corporate and other bond funds charge more, 38 the same and 146 less (share classes counted once).

## Charges & eligibility

- Ongoing charges figure (OCF): **0.20%** per year
- ISA eligible: yes
- SIPP eligible: yes

## What it holds

As of 30/09/2026, IBCX holds 4,160 positions, according to the holdings iShares publishes. The largest is ANHEUSER-BUSCH INBEV NV MTN RegS 2.00% 17/03/2028 at 0.10% of the fund; the ten largest make up 0.8%.

### Top holdings

Largest positions (as of 30/09/2026), as a percentage of the whole fund:

| # | Holding | Ticker | Weight |
|---|---|---|---|
| 1 | ANHEUSER-BUSCH INBEV NV MTN RegS 2.00% 17/03/2028 | — | 0.10% |
| 2 | ANHEUSER-BUSCH INBEV NV MTN RegS 2.75% 17/03/2036 | — | 0.09% |
| 3 | Amazon.Com Inc 3.35% 16/03/2032 | — | 0.08% |
| 4 | Amazon.Com Inc 3.70% 16/03/2035 | — | 0.08% |
| 5 | BANCO SANTANDER SA MTN RegS 4.88% 18/10/2031 | — | 0.08% |
| 6 | BP CAPITAL MARKETS PLC NC9 RegS 3.63% 31/12/2079 | — | 0.08% |
| 7 | JPMORGAN CHASE & CO MTN RegS 1.96% 23/03/2030 | — | 0.08% |
| 8 | Amazon.Com Inc 3.10% 16/03/2030 | — | 0.07% |
| 9 | Amazon.Com Inc 4.05% 16/03/2039 | — | 0.07% |
| 10 | BANCO SANTANDER SA MTN RegS 3.25% 02/04/2029 | — | 0.07% |

Source: iShares, holdings as published, as of 30/09/2026.

## Where it invests

Shares of the whole fund. Bonds, cash and positions the source does not classify are shown as they come, not guessed.

### By sector

As published by iShares, as of 30/09/2026.

| Sector | Weight |
|---|---|
| Banking | 29.5% |
| Consumer Cyclical | 8.9% |
| Consumer Non-Cyclical | 7.0% |
| Communication Services | 6.4% |
| Health Care | 5.8% |
| Owned No Guarantee | 5.5% |
| Electric | 5.1% |
| Capital Goods | 4.9% |
| Other sectors | 26.9% |

### By country

As published by iShares, as of 30/09/2026.

| Country | Weight |
|---|---|
| France | 19.3% |
| United States | 19.1% |
| Germany | 13.5% |
| United Kingdom | 8.7% |
| Italy | 5.5% |
| Netherlands | 5.3% |
| Spain | 5.3% |
| Switzerland | 3.6% |
| Other countries | 19.7% |

### By type of asset

Added up from the holdings iShares publishes, as of 30/09/2026.

| Type of asset | Weight |
|---|---|
| Bonds | 99.9% |
| Cash and money market | 0.1% |

All 4,160 holdings: https://fundology.uk/fund/ibcx/holdings

## Questions people ask

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

The ongoing charge of IBCX 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 EUR Corp Bond Large Cap UCITS ETF 0.20% a year, as of 02/10/2026: 208 of the 392 other corporate and other bond funds charge more, 38 the same and 146 less (share classes counted once).

**What does IBCX track?**

IBCX tracks the Markit iBoxx EUR Liquid Corporates Large Cap Total Return Index - EUR.

**Is IBCX accumulating or distributing?**

IBCX 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 IBCX?**

The ISIN of IBCX is IE0032523478. An ISIN identifies one exact share class of a fund; IBCX is its ticker on the London Stock Exchange.

**What does IBCX hold?**

As of 30/09/2026, IBCX holds 4,160 positions, according to the holdings iShares publishes. The largest is ANHEUSER-BUSCH INBEV NV MTN RegS 2.00% 17/03/2028 at 0.10% of the fund; the ten largest make up 0.8%. Its ten largest holdings are ANHEUSER-BUSCH INBEV NV MTN RegS 2.00% 17/03/2028 (0.10%), ANHEUSER-BUSCH INBEV NV MTN RegS 2.75% 17/03/2036 (0.09%), Amazon.Com Inc 3.35% 16/03/2032 (0.08%), Amazon.Com Inc 3.70% 16/03/2035 (0.08%), BANCO SANTANDER SA MTN RegS 4.88% 18/10/2031 (0.08%), BP CAPITAL MARKETS PLC NC9 RegS 3.63% 31/12/2079 (0.08%), JPMORGAN CHASE & CO MTN RegS 1.96% 23/03/2030 (0.08%), Amazon.Com Inc 3.10% 16/03/2030 (0.07%), Amazon.Com Inc 4.05% 16/03/2039 (0.07%) and BANCO SANTANDER SA MTN RegS 3.25% 02/04/2029 (0.07%).

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

Calendar-year returns of IBCX in pounds (price only, income paid out not included): 2022 −10.1%, 2023 +2.7%, 2024 −3.7%, 2025 +4.7%; 2026 to 01/10/2026 −5.5%. Past performance is not a guide to future returns.

**How has IBCX done after inflation?**

Over the five years to 01/10/2026 IBCX’s total return was −3.7%, or −24.7% after UK CPIH inflation. Past performance is not a guide to future returns.

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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.