# Amundi Index Solutions - USD Emerging Markets Government Bond (LEMB)

**Page:** https://fundology.uk/fund/lemb · ISIN LU1686830909

## 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, LEMB (Amundi Index Solutions - USD Emerging Markets Government Bond, ISIN LU1686830909) closed at $78.81 on the London Stock Exchange. Its ongoing charge is 0.30% a year (about £30 on £10,000). Over the five years to 13/11/2026 its total return was +3.3%, or −19.4% after UK CPIH inflation.

## Summary

Amundi Index Solutions - USD Emerging Markets Government Bond is an exchange-traded fund (ETF) from Amundi, launched in 2010. It tracks the J.P. Morgan EMBI Global Diversified Select Index - USD - Benchmark TR Gross. You buy and sell it through a share-dealing account or platform during stock-market hours, like a share. Its ongoing charge is 0.3% a year — about £30 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: **$78.81** (13/11/2026).

## Key facts

| Fact | Value |
|---|---|
| Ticker (LSE) | LEMB |
| ISIN | LU1686830909 |
| Category | Government bonds |
| Type | ETF |
| Provider | Amundi |
| Tracks | J.P. Morgan EMBI Global Diversified Select Index - USD - Benchmark TR Gross |
| Income | Distributing |
| Ongoing charge | 0.30% a year (£30 per £10,000) |
| Fund size | £43.9m |
| Launched | 2010 |
| Domicile | Luxembourg |
| UK reporting fund status | Yes — on HMRC’s list of reporting funds (list of 02/11/2026); reporting fund since 09/02/2024 |

## 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 | -0.17% | -3.70% | income reinvested |
| 3 years | +13.10% | +2.18% | income reinvested |
| 5 years | +3.27% | -19.39% | income reinvested |

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

## Calendar-year returns

Calendar-year returns of Amundi Index Solutions - USD Emerging Markets Government Bond in pounds (price only, income paid out not included): 2022 −11.7%, 2023 −2.7%, 2024 −0.5%, 2025 −1.5%; 2026 to 13/11/2026 +0.7%. Returns of Amundi Index Solutions - USD Emerging Markets Government Bond in pounds (price only, income paid out not included) over the 12 months to 30/09/2026: −3.7%; to 30/09/2025: −0.2%; to 30/09/2024: +1.7%; to 30/09/2023: −4.4%; to 30/09/2022: −9.2%.

| Year | Return | After CPIH inflation | Measured as |
|---|---|---|---|
| 2022 | -11.7% | -19.2% | Price |
| 2023 | -2.7% | -6.5% | Price |
| 2024 | -0.5% | -3.8% | Price |
| 2025 | -1.5% | -4.9% | Price |
| 2026 to 13/11/2026 | +0.7% | -2.5% | Price |

## Risk metrics

| Window | Volatility | Max drawdown |
|---|---|---|
| 1 year | 8.22% | -8.65% |
| 3 years | 8.94% | -10.83% |
| 5 years | 9.89% | -21.59% |

## Largest fall

Volatility of Amundi Index Solutions - USD Emerging Markets Government Bond in pounds, annualised from weekly returns to 13/11/2026: 8.2% over 1 year, 8.9% over 3 years, 9.9% over 5 years. Largest fall in the price of Amundi Index Solutions - USD Emerging Markets Government Bond since November 2021, in pounds: −21.6% from 10/12/2021 to 11/04/2025. The lowest 12-month return of Amundi Index Solutions - USD Emerging Markets Government Bond in pounds (price only, income paid out not included) since January 2021 was −13.5% (12 months to 09/12/2022); the highest was +8.3% (12 months to 26/06/2026). On 13/11/2026 the price of Amundi Index Solutions - USD Emerging Markets Government Bond was 16.7% below its highest weekly close since November 2021 (10/12/2021), in pounds.

## Charges compared with similar funds

Ongoing charge of Amundi Index Solutions - USD Emerging Markets Government Bond 0.30% a year. Compared on 14/11/2026, 27 of the 311 other government bond funds charge more, 0 the same and 284 less (share classes counted once).

## Funds tracking the same index

2 funds track J.P. Morgan EMBI Global Diversified Select Index - USD - Benchmark TR Gross, this one included and share classes counted once; their ongoing charges range from 0.30% to 0.45% a year (13/11/2026).

| Fund | Ongoing charge | 1 year | 3 years | 5 years |
|---|---|---|---|---|
| Amundi Index Solutions - USD Emerging Markets Government Bond (this fund) | 0.30% | -0.2% | +13.1% | +3.3% |
| Amundi USD Emerging Markets Government Bond hs -UCITS ETF GBP Hedged- Capitalisation | 0.45% | — | — | — |

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

## Charges & eligibility

- Ongoing charges figure (OCF): **0.30%** 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 11/11/2026, LEMB holds 593 positions, according to its published holdings. The largest is ARGENTINE 4.125% 09Jul35 at 1.10% of the fund; the ten largest make up 6.1%.

### Top holdings

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

| # | Holding | Ticker | Weight |
|---|---|---|---|
| 1 | ARGENTINE 4.125% 09Jul35 | — | 1.10% |
| 2 | REPUBLIC OF E 6.9% 31Jul35 | — | 0.74% |
| 3 | ARGENTINE 0.75% 09Jul30 | — | 0.68% |
| 4 | ARGENTINE 5% 09Jan38 | — | 0.64% |
| 5 | EAGLE FUNDING 5.5% 17Aug30 | — | 0.58% |
| 6 | GHANA GOVERNM 5% 03Jul35 | — | 0.55% |
| 7 | ARGENTINE 3.5% 09Jul41 | — | 0.53% |
| 8 | URUGUAY 5.1% 18Jun50 | — | 0.50% |
| 9 | SULTANATE OF 6.75% 17Jan48 | — | 0.41% |
| 10 | FEDERATIVE RE 6.625% 15Mar35 | — | 0.39% |

## 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 04/11/2026.

| Sector | Weight |
|---|---|
| Government | 89.0% |
| Energy | 5.7% |
| Financials | 2.3% |
| Materials | 1.8% |
| Utilities | 0.8% |
| Industrials | 0.3% |
| Consumer Discretionary | 0.1% |

### By country

As published for the fund, as of 04/11/2026.

| Country | Weight |
|---|---|
| Saudi Arabia | 7.0% |
| Mexico | 6.8% |
| Turkey | 5.3% |
| Indonesia | 4.7% |
| Brazil | 4.2% |
| Poland | 3.9% |
| Dominican Republic | 3.7% |
| Philippines | 3.7% |
| Other countries | 60.7% |

The 592 holdings on record (of 593 reported): https://fundology.uk/fund/lemb/holdings

## Questions people ask

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

The ongoing charge of LEMB is 0.30% a year — about £30 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 Amundi Index Solutions - USD Emerging Markets Government Bond 0.30% a year. Compared on 14/11/2026, 27 of the 311 other government bond funds charge more, 0 the same and 284 less (share classes counted once).

**What does LEMB track?**

LEMB tracks the J.P. Morgan EMBI Global Diversified Select Index - USD - Benchmark TR Gross.

**Is LEMB accumulating or distributing?**

LEMB is distributing: income is paid out to holders as cash, usually a few times a year. It pays out annual.

**What is the ISIN of LEMB?**

The ISIN of LEMB is LU1686830909. An ISIN identifies one exact share class of a fund; LEMB is its ticker on the London Stock Exchange.

**What does LEMB hold?**

As of 11/11/2026, LEMB holds 593 positions, according to its published holdings. The largest is ARGENTINE 4.125% 09Jul35 at 1.10% of the fund; the ten largest make up 6.1%. Its ten largest holdings are ARGENTINE 4.125% 09Jul35 (1.10%), REPUBLIC OF E 6.9% 31Jul35 (0.74%), ARGENTINE 0.75% 09Jul30 (0.68%), ARGENTINE 5% 09Jan38 (0.64%), EAGLE FUNDING 5.5% 17Aug30 (0.58%), GHANA GOVERNM 5% 03Jul35 (0.55%), ARGENTINE 3.5% 09Jul41 (0.53%), URUGUAY 5.1% 18Jun50 (0.50%), SULTANATE OF 6.75% 17Jan48 (0.41%) and FEDERATIVE RE 6.625% 15Mar35 (0.39%).

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

Calendar-year returns of LEMB in pounds (price only, income paid out not included): 2022 −11.7%, 2023 −2.7%, 2024 −0.5%, 2025 −1.5%; 2026 to 13/11/2026 +0.7%. Past performance is not a guide to future returns.

**How has LEMB done after inflation?**

Over the five years to 13/11/2026 LEMB’s total return was +3.3%, or −19.4% after UK CPIH inflation. Past performance is not a guide to future returns.

## Fund documents

- [Fund page at Amundi](https://www.amundietf.co.uk/en/professional/products/fixed-income/amundi-usd-emerging-markets-government-bond-ucits-etf-dist/lu1686830909)
- Links checked 12/10/2026.

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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.