# Invesco USD AAA CLO UCITS ETF AccumHedged GBP (ICLA) **Page:** https://fundology.uk/fund/icla · ISIN IE0006MHC136 ## 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, ICLA (Invesco USD AAA CLO UCITS ETF AccumHedged GBP, ISIN IE0006MHC136) closed at £17.18 on the London Stock Exchange. Its ongoing charge is 0.41% a year (about £41 on £10,000). Over the year to 13/11/2026 its total return was +4.2%, or +0.5% after UK CPIH inflation. ## Summary Invesco Markets II PLC - Invesco USD AAA CLO UCITS ETF AccumHedged GBP is an exchange-traded fund (ETF) from Invesco, launched in 2025. It tracks the No Underlying Index. You buy and sell it through a share-dealing account or platform during stock-market hours, like a share. Its ongoing charge is 0.41% a year — about £41 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. It is currency-hedged: it aims to remove most of the effect of exchange-rate moves against the pound. Latest close: **£17.18** (13/11/2026). ## Key facts | Fact | Value | |---|---| | Ticker (LSE) | ICLA | | ISIN | IE0006MHC136 | | Category | Corporate & other bonds | | Type | ETF | | Provider | Invesco | | Income | Accumulating | | Ongoing charge | 0.41% a year (£41 per £10,000) | | Fund size | £518m | | Launched | 2025 | | Domicile | Ireland | | UK reporting fund status | Yes — on HMRC’s list of reporting funds (list of 02/11/2026); reporting fund since 20/05/2025 | ## 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 | +4.17% | +0.48% | income reinvested | Returns: as reported (delayed data). Inflation: UK CPIH, latest month published. ## Calendar-year returns Calendar-year returns of Invesco Markets II PLC - Invesco USD AAA CLO UCITS ETF AccumHedged GBP in pounds (price, with income reinvested in the fund): 2026 to 13/11/2026 +4.2%. Returns of Invesco Markets II PLC - Invesco USD AAA CLO UCITS ETF AccumHedged GBP in pounds (price, with income reinvested in the fund) over the 12 months to 30/09/2026: +4.8%. | Year | Return | After CPIH inflation | Measured as | |---|---|---|---| | 2026 to 13/11/2026 | +4.2% | +0.9% | Price | ## Risk metrics | Window | Volatility | Max drawdown | |---|---|---| | 1 year | 2.08% | -1.40% | ## Largest fall Volatility of Invesco Markets II PLC - Invesco USD AAA CLO UCITS ETF AccumHedged GBP in pounds, annualised from weekly returns to 13/11/2026: 2.1% over 1 year. No fall of 2% or more in the price of Invesco Markets II PLC - Invesco USD AAA CLO UCITS ETF AccumHedged GBP since May 2025, in pounds, to 13/11/2026. On 13/11/2026 the price of Invesco Markets II PLC - Invesco USD AAA CLO UCITS ETF AccumHedged GBP was at its highest weekly close since May 2025, in pounds. ## Charges compared with similar funds Ongoing charge of Invesco Markets II PLC - Invesco USD AAA CLO UCITS ETF AccumHedged GBP 0.41% a year. Compared on 14/11/2026, 89 of the 427 other corporate and other bond funds charge more, 1 the same and 337 less (share classes counted once). ## Charges & eligibility - Ongoing charges figure (OCF): **0.41%** 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 12/11/2026, ICLA holds 135 positions, according to its published holdings. The largest is Neuberger Berman Loan Advisers CLO FRN 23/04/38 at 4.47% of the fund; the ten largest make up 29.9%. ### Top holdings Largest positions (as of 12/11/2026), as a percentage of the whole fund: | # | Holding | Ticker | Weight | |---|---|---|---| | 1 | Neuberger Berman Loan Advisers CLO FRN 23/04/38 | — | 4.47% | | 2 | Cash and/or Derivatives | — | 3.98% | | 3 | Captree Park CLO Ltd FRN 20/07/37 | — | 3.23% | | 4 | OCP CLO 2020-20 Ltd FRN 18/04/37 | — | 2.81% | | 5 | Golub Capital Partners CLO 19B-R3 FRN 20/10/36 | — | 2.68% | | 6 | Symphony CLO 30 Ltd FRN 20/10/37 | — | 2.60% | | 7 | Symphony Clo 47 Ltd FRN 20/04/38 | — | 2.60% | | 8 | Ares Direct Lending CLO 8 LLC FRN 20/01/39 | — | 2.59% | | 9 | OWL Rock CLO XXV LLC FRN 22/07/36 | — | 2.53% | | 10 | AGL CLO 23 Ltd FRN 20/04/38 | — | 2.46% | ## Where it invests Shares of the whole fund. Bonds, cash and positions without a classification are shown as they come, not guessed. ### By type of asset Added up from the fund’s published holdings, as of 05/11/2026. | Type of asset | Weight | |---|---| | Bonds | 93.7% | | Cash and money market | 6.3% | All 135 holdings: https://fundology.uk/fund/icla/holdings ## Questions people ask **What is the ongoing charge of ICLA?** The ongoing charge of ICLA is 0.41% a year — about £41 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 Invesco Markets II PLC - Invesco USD AAA CLO UCITS ETF AccumHedged GBP 0.41% a year. Compared on 14/11/2026, 89 of the 427 other corporate and other bond funds charge more, 1 the same and 337 less (share classes counted once). **Is ICLA accumulating or distributing?** ICLA 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 ICLA?** The ISIN of ICLA is IE0006MHC136. An ISIN identifies one exact share class of a fund; ICLA is its ticker on the London Stock Exchange. **What does ICLA hold?** As of 12/11/2026, ICLA holds 135 positions, according to its published holdings. The largest is Neuberger Berman Loan Advisers CLO FRN 23/04/38 at 4.47% of the fund; the ten largest make up 29.9%. Its ten largest holdings are Neuberger Berman Loan Advisers CLO FRN 23/04/38 (4.47%), Cash and/or Derivatives (3.98%), Captree Park CLO Ltd FRN 20/07/37 (3.23%), OCP CLO 2020-20 Ltd FRN 18/04/37 (2.81%), Golub Capital Partners CLO 19B-R3 FRN 20/10/36 (2.68%), Symphony CLO 30 Ltd FRN 20/10/37 (2.60%), Symphony Clo 47 Ltd FRN 20/04/38 (2.60%), Ares Direct Lending CLO 8 LLC FRN 20/01/39 (2.59%), OWL Rock CLO XXV LLC FRN 22/07/36 (2.53%) and AGL CLO 23 Ltd FRN 20/04/38 (2.46%). **What were ICLA’s returns in each of the last five years?** Calendar-year returns of ICLA in pounds (price, with income reinvested in the fund): 2026 to 13/11/2026 +4.2%. Past performance is not a guide to future returns. **How has ICLA done after inflation?** Over the year to 13/11/2026 ICLA’s total return was +4.2%, or +0.5% after UK CPIH inflation. Past performance is not a guide to future returns. --- 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.