# iShares Italy Govt Bond UCITS ETF (IITB) **Page:** https://fundology.uk/fund/iitb · ISIN IE00B7LW6Y90 ## 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, IITB (iShares Italy Govt Bond UCITS ETF, ISIN IE00B7LW6Y90) closed at €146.46 on the London Stock Exchange. Its ongoing charge is 0.20% a year (about £20 on £10,000). Over the five years to 13/11/2026 its total return was −7.9%, or −28.1% after UK CPIH inflation. ## Summary iShares Italy Govt Bond UCITS ETF is an exchange-traded fund (ETF) from iShares, launched in 2012. It tracks the Bloomberg Euro Aggregate Treasury Italy. 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: **€146.46** (13/11/2026). ## Key facts | Fact | Value | |---|---| | Ticker (LSE) | IITB | | ISIN | IE00B7LW6Y90 | | Also listed as | IS0M (Xetra, euros) | | Category | Government bonds | | Type | ETF | | Provider | iShares | | Tracks | Bloomberg Euro Aggregate Treasury Italy | | Income | Distributing | | Ongoing charge | 0.20% a year (£20 per £10,000) | | Fund size | £421m | | Launched | 2012 | | Domicile | Ireland | | UK reporting fund status | Yes — on HMRC’s list of reporting funds (list of 02/11/2026); reporting fund since 09/05/2012 | ## 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 | -7.19% | -10.47% | income reinvested | | 3 years | +7.65% | -2.74% | income reinvested | | 5 years | -7.90% | -28.11% | income reinvested | Returns: as reported (delayed data). Inflation: UK CPIH, latest month published. ## Calendar-year returns Calendar-year returns of iShares Italy Govt Bond UCITS ETF in pounds (price only, income paid out not included): 2022 −14.6%, 2023 +5.2%, 2024 −3.3%, 2025 +5.3%; 2026 to 13/11/2026 −7.2%. Returns of iShares Italy Govt Bond UCITS ETF in pounds (price only, income paid out not included) over the 12 months to 30/09/2026: −7.5%; to 30/09/2025: +4.7%; to 30/09/2024: +5.5%; to 30/09/2023: −2.9%. | Year | Return | After CPIH inflation | Measured as | |---|---|---|---| | 2022 | -14.6% | -21.8% | Price | | 2023 | +5.2% | +1.0% | Price | | 2024 | -3.3% | -6.6% | Price | | 2025 | +5.3% | +1.7% | Price | | 2026 to 13/11/2026 | -7.2% | -10.2% | Price | ## Risk metrics | Window | Volatility | Max drawdown | |---|---|---| | 1 year | 5.90% | -11.30% | | 3 years | 5.67% | -11.30% | | 5 years | 7.78% | -18.67% | ## Largest fall Volatility of iShares Italy Govt Bond UCITS ETF in pounds, annualised from weekly returns to 13/11/2026: 5.9% over 1 year, 5.7% over 3 years, 7.8% over 5 years. Largest fall in the price of iShares Italy Govt Bond UCITS ETF since November 2021, in pounds: −18.5% from 17/12/2021 to 06/10/2023. The lowest 12-month return of iShares Italy Govt Bond UCITS ETF in pounds (price only, income paid out not included) since November 2020 was −16.4% (12 months to 26/08/2022); the highest was +7.7% (12 months to 07/11/2025). On 13/11/2026 the price of iShares Italy Govt Bond UCITS ETF was 16.9% below its highest weekly close since November 2021 (17/12/2021), in pounds. ## Charges compared with similar funds Ongoing charge of iShares Italy Govt Bond UCITS ETF 0.20% a year. Compared on 14/11/2026, 62 of the 311 other government bond funds charge more, 30 the same and 219 less (share classes counted once). ## Funds tracking the same index 3 funds track Bloomberg Euro Aggregate Treasury Italy, this one included and share classes counted once; their ongoing charges range from 0.20% to 0.22% a year (13/11/2026). | Fund | Ongoing charge | 1 year | 3 years | 5 years | |---|---|---|---|---| | iShares Italy Govt Bond UCITS ETF (this fund) | 0.20% | -7.2% | +7.6% | -7.9% | | iShares Italy Govt Bond UCITS ETF Hedged GBP | 0.22% | -0.6% | +4.5% | — | | iShares Italy Govt Bond UCITS ETF USD Hedged Acc | 0.22% | -0.7% | +9.7% | +5.4% | Returns are as reported, in pounds, income reinvested unless marked "(price)". ## Charges & eligibility - Ongoing charges figure (OCF): **0.20%** per year (as of 13/11/2026) - 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, IITB holds 96 positions, according to its published holdings. The largest is Italy (Republic Of) 4.00% 01/02/2037 at 2.00% of the fund; the ten largest make up 16.8%. ### Top holdings Largest positions (as of 06/11/2026), as a percentage of the whole fund: | # | Holding | Ticker | Weight | |---|---|---|---| | 1 | Italy (Republic Of) 4.00% 01/02/2037 | — | 2.00% | | 2 | Italy (Republic Of) Mtn 3.50% 01/03/2030 | — | 1.79% | | 3 | ITALY (REPUBLIC OF) RegS 6.00% 01/05/2031 | — | 1.77% | | 4 | Italy (Republic Of) 5.00% 01/08/2034 | — | 1.76% | | 5 | ITALY (REPUBLIC OF) RegS 5.75% 01/02/2033 | — | 1.70% | | 6 | Italy (Republic Of) 5.00% 01/08/2039 | — | 1.66% | | 7 | Italy (Republic Of) 5.00% 01/09/2040 | — | 1.58% | | 8 | Italy (Republic Of) 4.75% 01/09/2028 | — | 1.55% | | 9 | ITALY (REPUBLIC OF) RegS 5.25% 01/11/2029 | — | 1.50% | | 10 | ITALY (REPUBLIC OF) RegS 3.00% 01/08/2029 | — | 1.48% | ## 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 | |---|---| | Treasury | 99.9% | | Cash and derivatives | 0.1% | ### 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% | All 97 holdings: https://fundology.uk/fund/iitb/holdings ## Questions people ask **What is the ongoing charge of IITB?** The ongoing charge of IITB 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 Italy Govt Bond UCITS ETF 0.20% a year. Compared on 14/11/2026, 62 of the 311 other government bond funds charge more, 30 the same and 219 less (share classes counted once). **What does IITB track?** IITB tracks the Bloomberg Euro Aggregate Treasury Italy. **Is IITB accumulating or distributing?** IITB 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 IITB?** The ISIN of IITB is IE00B7LW6Y90. An ISIN identifies one exact share class of a fund; IITB is its ticker on the London Stock Exchange. The same share class is also listed as IS0M (Xetra, euros). **What does IITB hold?** As of 06/11/2026, IITB holds 96 positions, according to its published holdings. The largest is Italy (Republic Of) 4.00% 01/02/2037 at 2.00% of the fund; the ten largest make up 16.8%. Its ten largest holdings are Italy (Republic Of) 4.00% 01/02/2037 (2.00%), Italy (Republic Of) Mtn 3.50% 01/03/2030 (1.79%), ITALY (REPUBLIC OF) RegS 6.00% 01/05/2031 (1.77%), Italy (Republic Of) 5.00% 01/08/2034 (1.76%), ITALY (REPUBLIC OF) RegS 5.75% 01/02/2033 (1.70%), Italy (Republic Of) 5.00% 01/08/2039 (1.66%), Italy (Republic Of) 5.00% 01/09/2040 (1.58%), Italy (Republic Of) 4.75% 01/09/2028 (1.55%), ITALY (REPUBLIC OF) RegS 5.25% 01/11/2029 (1.50%) and ITALY (REPUBLIC OF) RegS 3.00% 01/08/2029 (1.48%). **What were IITB’s returns in each of the last five years?** Calendar-year returns of IITB in pounds (price only, income paid out not included): 2022 −14.6%, 2023 +5.2%, 2024 −3.3%, 2025 +5.3%; 2026 to 13/11/2026 −7.2%. Past performance is not a guide to future returns. **How has IITB done after inflation?** Over the five years to 13/11/2026 IITB’s total return was −7.9%, or −28.1% 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/251747/ishares-italy-government-bond-ucits-etf) - [Key investor information document (KIID)](https://www.ishares.com/gls-download/literature/kiid/ucits_kiid-ishares-italy-govt-bond-ucits-etf-eur-dist-gb-ie00b7lw6y90-en.pdf) - [Factsheet](https://www.ishares.com/gls-download/literature/fact-sheet/iitb-ishares-italy-govt-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.