# iShares S&P 500 EUR Hedged UCITS ETF (Acc) (IUSE)

**Page:** https://fundology.uk/fund/iuse · ISIN IE00B3ZW0K18

## 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, IUSE (iShares S&P 500 EUR Hedged UCITS ETF (Acc), ISIN IE00B3ZW0K18) closed at €154.23 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 +50.4%, or +17.4% after UK CPIH inflation.

## Summary

iShares S&P 500 EUR Hedged UCITS ETF (Acc) is an exchange-traded fund (ETF) from iShares, launched in 2010. It tracks the S&P 500 — about 500 of the largest companies listed in the US. 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 reinvested inside the fund, so it shows up as a rising price rather than cash paid to you. It is currency-hedged to euros, not to the pound: it aims to remove most of the effect of exchange-rate moves against euros, so a holder who counts in pounds still has currency risk.

Latest close: **€154.23** (13/11/2026).

## Key facts

| Fact | Value |
|---|---|
| Ticker (LSE) | IUSE |
| ISIN | IE00B3ZW0K18 |
| Also listed as | IBCF (Xetra, euros) |
| Category | US shares |
| Type | ETF |
| Provider | iShares |
| Tracks | S&P 500 |
| Income | Accumulating |
| Ongoing charge | 0.20% a year (£20 per £10,000) |
| Fund size | £7.6bn |
| Launched | 2010 |
| Domicile | Ireland |
| UK reporting fund status | Yes — on HMRC’s list of reporting funds (list of 02/11/2026); reporting fund since 04/10/2010 |

## 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 | +4.07% | +0.38% | income reinvested |
| 3 years | +60.51% | +45.01% | income reinvested |
| 5 years | +50.42% | +17.41% | income reinvested |

Returns: as reported (delayed data). Inflation: UK CPIH, latest month published.

## Calendar-year returns

Calendar-year returns of iShares S&P 500 EUR Hedged UCITS ETF (Acc) in pounds (price, with income reinvested in the fund): 2022 −16.8%, 2023 +20.6%, 2024 +17.4%, 2025 +20.2%; 2026 to 13/11/2026 +4.2%. Returns of iShares S&P 500 EUR Hedged UCITS ETF (Acc) in pounds (price, with income reinvested in the fund) over the 12 months to 30/09/2026: +10.6%; to 30/09/2025: +21.7%; to 30/09/2024: +27.3%; to 30/09/2023: +13.4%; to 30/09/2022: −13.9%.

| Year | Return | After CPIH inflation | Measured as |
|---|---|---|---|
| 2022 | -16.8% | -23.8% | Price |
| 2023 | +20.6% | +15.8% | Price |
| 2024 | +17.4% | +13.4% | Price |
| 2025 | +20.2% | +16.1% | Price |
| 2026 to 13/11/2026 | +4.2% | +0.8% | Price |

## Risk metrics

| Window | Volatility | Max drawdown |
|---|---|---|
| 1 year | 12.34% | -8.17% |
| 3 years | 12.79% | -14.61% |
| 5 years | 15.01% | -22.47% |

## Largest fall

Volatility of iShares S&P 500 EUR Hedged UCITS ETF (Acc) in pounds, annualised from weekly returns to 13/11/2026: 12.3% over 1 year, 12.8% over 3 years, 15.0% over 5 years. Largest fall in the price of iShares S&P 500 EUR Hedged UCITS ETF (Acc) since November 2021, in pounds: −22.5% from 24/12/2021 to 14/10/2022. The lowest 12-month return of iShares S&P 500 EUR Hedged UCITS ETF (Acc) in pounds (price, with income reinvested in the fund) since January 2021 was −20.2% (12 months to 04/11/2022); the highest was +34.1% (12 months to 17/04/2026). On 13/11/2026 the price of iShares S&P 500 EUR Hedged UCITS ETF (Acc) was 5.7% below its highest weekly close since November 2021 (07/08/2026), in pounds.

## Charges compared with similar funds

Ongoing charge of iShares S&P 500 EUR Hedged UCITS ETF (Acc) 0.20% a year. Compared on 14/11/2026, 85 of the 254 other US share funds charge more, 44 the same and 125 less (share classes counted once).

## Funds tracking the same index

48 funds track S&P 500, this one included and share classes counted once; their ongoing charges range from 0.03% to 0.45% a year (13/11/2026).

| Fund | Ongoing charge | 1 year | 3 years | 5 years |
|---|---|---|---|---|
| Amundi Core S&P 500 UCITS ETF Accum Shs USD | 0.04% | +13.0% | — | — |
| Amundi Index Solutions - S&P 500 UCITS ETF | 0.15% | +11.0% | +64.7% | +75.5% |
| Amundi Index Solutions - S&P 500 UCITS ETF Dist | 0.15% | +11.4% | +61.3% | — |
| BNP PARIBAS EASY - S&P 500 II | 0.08% | +13.9% | — | — |
| BNP Paribas Easy S&P 500 UCITS ETF Act. EUR HDG | 0.14% | +3.8% | +59.2% | +49.7% |
| BNP Paribas Easy S&P 500 UCITS ETF Class C USD | 0.14% | +11.6% | +63.8% | +74.9% |
| BNP Paribas Easy S&P 500 UCITS ETF Class H USD | 0.14% | +11.6% | +63.8% | +74.9% |
| BNP Paribas Easy SICAV - S&P 500 II -UCITS ETF- Distribution | 0.08% | +11.7% | — | — |
| Global X ETFs ICAV-Global X S&P 500Covered Call UCITS ETF USD | 0.45% | +13.0% | +13.4% | — |
| HSBC ETFs PLC - HSBC S&P 500 UCITS ETF Accum USD | 0.09% | +11.2% | — | — |
| HSBC S&P 500 UCITS ETF USD | 0.09% | +11.2% | +64.7% | +75.1% |
| Invesco S&P 500 UCITS ETF | 0.05% | +11.4% | +65.5% | +76.9% |
| Invesco S&P 500 UCITS ETF Dist | 0.05% | +12.0% | +65.6% | +78.0% |
| Invesco S&P 500 UCITS ETF EUR Hedged Acc | 0.05% | +4.1% | +60.4% | +50.8% |
| Invesco S&P 500 UCITS ETF Hedged GBP | 0.05% | +11.9% | +76.9% | — |
| iShares Core S&P 500 UCITS ETF | 0.07% | +11.3% | +64.8% | +75.4% |
| iShares Core S&P 500 UCITS ETF GBP Hedged Dist | 0.10% | +11.8% | +75.7% | +65.0% |
| iShares Core S&P 500 UCITS ETF MXN Hedged (Acc) | 0.12% | +12.3% | +75.7% | +143.1% |
| iShares Core S&P 500 UCITS ETF USD (Dist) | 0.07% | +11.3% | +64.8% | +75.3% |
| iShares S&P 500 CHF Hedged UCITS ETF (Acc) | 0.20% | +1.3% | +55.0% | +55.9% |
| iShares S&P 500 EUR Hedged UCITS ETF (Acc) (this fund) | 0.20% | +4.1% | +60.5% | +50.4% |
| iShares S&P 500 GBP Hedged UCITS ETF (Acc) | 0.20% | +11.5% | +75.3% | +64.3% |
| iShares S&P 500 Swap UCITS ETF AccumUSD | 0.05% | +11.4% | +65.6% | — |
| iShares S&P 500 Swap UCITS ETF GBP Hedged (Dist) | 0.05% | +11.9% | — | — |
| iShares S&P 500 Swap UCITS ETF USD | 0.05% | +11.4% | — | — |
| Multi Units Luxembourg SICAV - Amundi Core S&P 500 Swap C-EUR | 0.05% | — | — | — |
| Multi Units Luxembourg SICAV - Amundi Core S&P 500 Swap D USD | 0.05% | +11.4% | +65.5% | +76.7% |
| Multi Units Luxembourg SICAV - Amundi Core S&P 500 Swap Daily Hedged D EUR | 0.07% | +4.2% | +61.1% | +51.7% |
| Multi Units Luxembourg SICAV - Amundi Core S&P 500 Swap Daily Hedged to CHF D | 0.07% | +1.5% | +56.2% | +58.0% |
| Multi Units Luxembourg SICAV - Amundi Core S&P 500 Swap Daily Hedged to GBP D | 0.05% | +12.0% | +77.1% | +67.3% |
| State Street SPDR S&P 500 UCITS ETF Accum shs - USD | 0.03% | +11.0% | — | — |
| State Street SPDR S&P 500 UCITS ETF USD | 0.03% | +11.0% | +64.5% | +74.8% |
| UBS (Irl) Fund Solutions PLC- UBS S&P 500 SF UCITS ETF Accum Shs USD | 0.19% | +8.7% | +59.9% | +68.0% |
| UBS Core S&P 500 UCITS ETF -A- Hedged GBP | 0.06% | +12.0% | +77.5% | +66.4% |
| UBS Core S&P 500 UCITS ETF Accum -A- Hedged CHF | 0.06% | +1.3% | +55.4% | +56.1% |
| UBS Core S&P 500 UCITS ETF Accum -A- Hedged EUR | 0.06% | +4.2% | +61.0% | +50.8% |
| UBS Core S&P 500 UCITS ETF AccumUSD | — | +13.9% | — | — |
| UBS Core S&P 500 UCITS ETF Class -A- USD | 0.03% | +11.3% | +64.8% | +75.2% |
| Vanguard S&P 500 UCITS ETF | 0.07% | +11.3% | +64.7% | +75.3% |
| Vanguard S&P 500 UCITS ETF Acc | 0.07% | +11.3% | +64.7% | +75.3% |
| Xtrackers S&P 500 Swap II UCITS ETF -1D- USD | 0.04% | +13.7% | — | — |
| Xtrackers S&P 500 Swap UCITS ETF | 0.20% | +11.7% | +75.8% | — |
| Xtrackers S&P 500 SWAP UCITS ETF Capitalisation 1C | 0.15% | +11.3% | +65.1% | +76.2% |
| Xtrackers S&P 500 Swap UCITS ETF Dist | 0.07% | +11.4% | — | — |
| Xtrackers S&P 500 UCITS ETF | — | +11.3% | — | — |
| Xtrackers S&P 500 UCITS ETF -4D- USD | 0.19% | +8.7% | — | — |
| Xtrackers S&P 500 UCITS ETF Accum Shs -2C- Hedged GBP | 0.15% | +11.8% | +75.8% | +64.6% |
| Xtrackers S&P 500 UCITS ETF EUR Hedged | 0.15% | +4.1% | +60.1% | +49.5% |

Returns are as reported, in pounds, income reinvested unless marked "(price)".

## Charges & eligibility

- Ongoing charges figure (OCF): **0.20%** 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 06/11/2026, IUSE holds 504 positions, according to its published holdings. The largest is Apple at 7.83% of the fund; the ten largest make up 37.5%.

### Top holdings

Largest positions (as of 06/11/2026), as a percentage of the whole fund:

| # | Holding | Ticker | Weight |
|---|---|---|---|
| 1 | Apple | [AAPL](https://fundology.uk/stock/AAPL) | 7.83% |
| 2 | NVIDIA | [NVDA](https://fundology.uk/stock/NVDA) | 7.08% |
| 3 | Microsoft | [MSFT](https://fundology.uk/stock/MSFT) | 6.17% |
| 4 | Amazon | [AMZN](https://fundology.uk/stock/AMZN) | 3.99% |
| 5 | Alphabet · Class A | [GOOGL](https://fundology.uk/stock/GOOGL) | 2.62% |
| 6 | Broadcom | [AVGO](https://fundology.uk/stock/AVGO) | 2.19% |
| 7 | Alphabet · Class C | [GOOG](https://fundology.uk/stock/GOOG) | 2.11% |
| 8 | Meta Platforms · Class A | [META](https://fundology.uk/stock/META) | 2.11% |
| 9 | Eli Lilly | [LLY](https://fundology.uk/stock/LLY) | 1.70% |
| 10 | Berkshire Hathaway · Class B | [BRK.B](https://fundology.uk/stock/BRK.B) | 1.67% |

## 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 |
|---|---|
| Information Technology | 36.0% |
| Financials | 12.7% |
| Health Care | 10.5% |
| Consumer Discretionary | 9.6% |
| Communication Services | 8.9% |
| Industrials | 8.1% |
| Consumer Staples | 5.2% |
| Energy | 3.5% |
| Other sectors | 6.2% |

### By type of asset

Added up from the fund’s published holdings, as of 06/11/2026.

| Type of asset | Weight |
|---|---|
| Equity | 99.4% |
| Cash and money market | 0.6% |

All 506 holdings: https://fundology.uk/fund/iuse/holdings

## Questions people ask

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

The ongoing charge of IUSE 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 S&P 500 EUR Hedged UCITS ETF (Acc) 0.20% a year. Compared on 14/11/2026, 85 of the 254 other US share funds charge more, 44 the same and 125 less (share classes counted once).

**What does IUSE track?**

IUSE tracks the S&P 500 — about 500 of the largest companies listed in the US.

**Is IUSE accumulating or distributing?**

IUSE 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 IUSE?**

The ISIN of IUSE is IE00B3ZW0K18. An ISIN identifies one exact share class of a fund; IUSE is its ticker on the London Stock Exchange. The same share class is also listed as IBCF (Xetra, euros).

**What does IUSE hold?**

As of 06/11/2026, IUSE holds 504 positions, according to its published holdings. The largest is Apple at 7.83% of the fund; the ten largest make up 37.5%. Its ten largest holdings are Apple (7.83%), NVIDIA (7.08%), Microsoft (6.17%), Amazon (3.99%), Alphabet · Class A (2.62%), Broadcom (2.19%), Alphabet · Class C (2.11%), Meta Platforms · Class A (2.11%), Eli Lilly (1.70%) and Berkshire Hathaway · Class B (1.67%).

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

Calendar-year returns of IUSE in pounds (price, with income reinvested in the fund): 2022 −16.8%, 2023 +20.6%, 2024 +17.4%, 2025 +20.2%; 2026 to 13/11/2026 +4.2%. Past performance is not a guide to future returns.

**How has IUSE done after inflation?**

Over the five years to 13/11/2026 IUSE’s total return was +50.4%, or +17.4% 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/251903/ishares-sp-500-eur-hedged-ucits-etf)
- [Key investor information document (KIID)](https://www.ishares.com/gls-download/literature/kiid/ucits_kiid-ishares-sp-500-eur-hedged-ucits-etf-acc-gb-ie00b3zw0k18-en.pdf)
- [Factsheet](https://www.ishares.com/gls-download/literature/fact-sheet/iuse-ishares-s-p-500-eur-hedged-ucits-etf-acc-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.