# iShares USD Intermediate Credit Bond UCITS ETF Hedged GBP (ICBH) **Page:** https://fundology.uk/fund/icbh · ISIN IE0002O230L3 ## 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, ICBH (iShares USD Intermediate Credit Bond UCITS ETF Hedged GBP, ISIN IE0002O230L3) closed at £4.90 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 −0.4%, or −3.9% after UK CPIH inflation. ## Summary iShares USD Intermediate Credit Bond UCITS ETF Hedged GBP is an exchange-traded fund (ETF) from iShares, launched in 2025. It tracks the Bloomberg U.S. Intermediate Credit Index - 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 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: **£4.90** (13/11/2026). ## Key facts | Fact | Value | |---|---| | Ticker (LSE) | ICBH | | ISIN | IE0002O230L3 | | Category | Corporate & other bonds | | Type | ETF | | Provider | iShares | | Tracks | Bloomberg U.S. Intermediate Credit Index - Benchmark TR Net | | Income | Distributing | | Ongoing charge | 0.18% a year (£18 per £10,000) | | Fund size | £873k | | Launched | 2025 | | Domicile | Ireland | | UK reporting fund status | Yes — on HMRC’s list of reporting funds (list of 02/11/2026); reporting fund since 07/05/2025 | ## 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 | -0.36% | -3.89% | income reinvested | Returns: as reported (delayed data). Inflation: UK CPIH, latest month published. ## Calendar-year returns Calendar-year returns of iShares USD Intermediate Credit Bond UCITS ETF Hedged GBP in pounds (price only, income paid out not included): 2026 to 13/11/2026 −6.0%. Returns of iShares USD Intermediate Credit Bond UCITS ETF Hedged GBP in pounds (price only, income paid out not included) over the 12 months to 30/09/2026: −5.1%. | Year | Return | After CPIH inflation | Measured as | |---|---|---|---| | 2026 to 13/11/2026 | -6.0% | -9.0% | Price | ## Risk metrics | Window | Volatility | Max drawdown | |---|---|---| | 1 year | 3.89% | -6.21% | ## Largest fall Volatility of iShares USD Intermediate Credit Bond UCITS ETF Hedged GBP in pounds, annualised from weekly returns to 13/11/2026: 3.9% over 1 year. Largest fall in the price of iShares USD Intermediate Credit Bond UCITS ETF Hedged GBP since May 2025, in pounds: −6.2% from 09/01/2026 to 16/10/2026. On 13/11/2026 the price of iShares USD Intermediate Credit Bond UCITS ETF Hedged GBP was 6.2% below its highest weekly close since May 2025 (09/01/2026), in pounds. ## Charges compared with similar funds Ongoing charge of iShares USD Intermediate Credit Bond UCITS ETF Hedged GBP 0.18% a year. Compared on 14/11/2026, 272 of the 427 other corporate and other bond funds charge more, 10 the same and 145 less (share classes counted once). ## Funds tracking the same index 2 funds track Bloomberg U.S. Intermediate Credit Index - Benchmark TR Net, this one included and share classes counted once; their ongoing charges range from 0.15% to 0.18% a year (13/11/2026). | Fund | Ongoing charge | 1 year | 3 years | 5 years | |---|---|---|---|---| | iShares USD Intermediate Credit Bond UCITS ETF | 0.15% | +0.2% | +8.6% | +9.1% | | iShares USD Intermediate Credit Bond UCITS ETF Hedged GBP (this fund) | 0.18% | -0.4% | — | — | Returns are as reported, in pounds, income reinvested unless marked "(price)". ## Charges & eligibility - Ongoing charges figure (OCF): **0.18%** per year (as of 16/10/2026) - 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 06/11/2026, ICBH holds 6,001 positions, according to its published holdings. The largest is International Bank for Reconstruct Mtn 4.63% 15/01/2032 at 0.15% of the fund; the ten largest make up 1.2%. ### Top holdings Largest positions (as of 06/11/2026), as a percentage of the whole fund: | # | Holding | Ticker | Weight | |---|---|---|---| | 1 | International Bank for Reconstruct Mtn 4.63% 15/01/2032 | — | 0.15% | | 2 | Blk Ics USD Leaf Agency Dist | — | 0.13% | | 3 | International Bank for Reconstruct 1.25% 10/02/2031 | — | 0.13% | | 4 | International Bank for Reconstruct 3.50% 12/07/2028 | — | 0.13% | | 5 | European Investment Bank 3.88% 15/06/2028 | — | 0.12% | | 6 | Asian Development Bank Mtn 3.75% 25/04/2028 | — | 0.11% | | 7 | Asian Development Bank Mtn 4.38% 06/03/2029 | — | 0.11% | | 8 | International Bank for Reconstruct 3.50% 28/10/2030 | — | 0.11% | | 9 | International Bank for Reconstruct 4.00% 10/01/2031 | — | 0.11% | | 10 | Bank of America Corp 3.42% 20/12/2028 | — | 0.10% | ## Where it invests Shares of the whole fund. Bonds, cash and positions without a classification are shown as they come, not guessed. ### By sector As published for the fund, as of 06/11/2026. | Sector | Weight | |---|---| | Banking | 24.4% | | Health Care | 6.8% | | Supranational | 6.7% | | Electric | 6.7% | | Consumer Cyclical | 6.5% | | Communication Services | 5.4% | | Energy | 5.1% | | Capital Goods | 4.9% | | Other sectors | 33.4% | ### By type of asset Added up from the fund’s published holdings, as of 06/11/2026. | Type of asset | Weight | |---|---| | Bonds | 99.9% | | Cash and money market | 0.1% | The 5,251 holdings on record (of 6,001 reported): https://fundology.uk/fund/icbh/holdings ## Questions people ask **What is the ongoing charge of ICBH?** The ongoing charge of ICBH 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 iShares USD Intermediate Credit Bond UCITS ETF Hedged GBP 0.18% a year. Compared on 14/11/2026, 272 of the 427 other corporate and other bond funds charge more, 10 the same and 145 less (share classes counted once). **What does ICBH track?** ICBH tracks the Bloomberg U.S. Intermediate Credit Index - Benchmark TR Net. **Is ICBH accumulating or distributing?** ICBH 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 ICBH?** The ISIN of ICBH is IE0002O230L3. An ISIN identifies one exact share class of a fund; ICBH is its ticker on the London Stock Exchange. **What does ICBH hold?** As of 06/11/2026, ICBH holds 6,001 positions, according to its published holdings. The largest is International Bank for Reconstruct Mtn 4.63% 15/01/2032 at 0.15% of the fund; the ten largest make up 1.2%. Its ten largest holdings are International Bank for Reconstruct Mtn 4.63% 15/01/2032 (0.15%), Blk Ics USD Leaf Agency Dist (0.13%), International Bank for Reconstruct 1.25% 10/02/2031 (0.13%), International Bank for Reconstruct 3.50% 12/07/2028 (0.13%), European Investment Bank 3.88% 15/06/2028 (0.12%), Asian Development Bank Mtn 3.75% 25/04/2028 (0.11%), Asian Development Bank Mtn 4.38% 06/03/2029 (0.11%), International Bank for Reconstruct 3.50% 28/10/2030 (0.11%), International Bank for Reconstruct 4.00% 10/01/2031 (0.11%) and Bank of America Corp 3.42% 20/12/2028 (0.10%). **What were ICBH’s returns in each of the last five years?** Calendar-year returns of ICBH in pounds (price only, income paid out not included): 2026 to 13/11/2026 −6.0%. Past performance is not a guide to future returns. **How has ICBH done after inflation?** Over the year to 13/11/2026 ICBH’s total return was −0.4%, or −3.9% after UK CPIH inflation. Past performance is not a guide to future returns. ## Fund documents - [Fund page at iShares](https://www.ishares.com/uk/individual/en/products/342933/ishares-intermediate-credit-bond-ucits-etf) - [Key investor information document (KIID)](https://www.ishares.com/gls-download/literature/kiid/ucits_kiid-ishares-intermediate-credit-bond-ucits-etf-gbp-hedged-dist-gb-ie0002o230l3-en.pdf) - [Factsheet](https://www.ishares.com/gls-download/literature/fact-sheet/icbh-ishares-intermediate-credit-bond-ucits-etf-fund-fact-sheet-en-gb.pdf) - 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.