# Invesco Emerging Markets USD Bond UCITS ETF (PEMD) **Source:** https://fundology.uk/fund/pemd · ISIN IE00BF51K132 · Data: TradingView (LSE closes and returns, delayed), issuer documents, ONS CPIH, FCA FIRDS ## 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 30/09/2026, PEMD (Invesco Emerging Markets USD Bond UCITS ETF, ISIN IE00BF51K132) closed at $15.66 on the London Stock Exchange. Its ongoing charge is 0.25% a year (about £25 on £10,000). Over the five years to 30/09/2026 its total return was +9.9%, or −14.1% after UK CPIH inflation. ## Summary Invesco Emerging Markets USD Bond UCITS ETF is an exchange-traded fund (ETF) from Invesco, launched in 2017. It tracks the Bloomberg Barclays Emerging Markets USD Sovereign Bond Index. You buy and sell it through a share-dealing account or platform during stock-market hours, like a share. Its ongoing charge is 0.25% a year — about £25 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: **$15.66** (30/09/2026). ## Key facts | Fact | Value | |---|---| | Ticker (LSE) | PEMD | | ISIN | IE00BF51K132 | | Category | Government bonds | | Type | ETF | | Provider | Invesco | | Tracks | Bloomberg Barclays Emerging Markets USD Sovereign Bond Index | | Income | Distributing | | Ongoing charge | 0.25% a year (£25 per £10,000) | | Fund size | £38.2m | | Launched | 2017 | | Domicile | Ireland | ## Past returns (periods to 30/09/2026) After the fund's ongoing charges. "Income reinvested" is total return; "price only" leaves out income paid out. Real returns are after ONS CPIH inflation. | Window | Return | After CPIH inflation | Measured as | |---|---|---|---| | 1 year | +2.27% | -0.94% | income reinvested | | 3 years | +19.03% | +7.41% | income reinvested | | 5 years | +9.86% | -14.12% | income reinvested | Returns: TradingView (delayed data). Inflation: ONS CPIH, latest month published. ## Calendar-year returns Calendar-year returns of Invesco Emerging Markets USD Bond UCITS ETF in pounds (price only, income paid out not included): 2022 −10.8%, 2023 −1.2%, 2024 +1.3%, 2025 −0.8%; 2026 to 30/09/2026 −4.8%. Returns of Invesco Emerging Markets USD Bond UCITS ETF in pounds (price only, income paid out not included) over the 12 months to 30/09/2026: −4.3%; to 30/09/2025: +1.5%; to 30/09/2024: +2.8%; to 30/09/2023: −7.4%; to 30/09/2022: −8.9%. | Year | Return | After CPIH inflation | Measured as | |---|---|---|---| | 2022 | -10.8% | -18.4% | Price | | 2023 | -1.2% | -5.2% | Price | | 2024 | +1.3% | -2.1% | Price | | 2025 | -0.8% | -4.2% | Price | | 2026 to 30/09/2026 | -4.8% | -7.4% | Price | ## Risk metrics | Window | Volatility | Max drawdown | |---|---|---| | 1 year | 7.50% | -8.16% | | 3 years | 7.77% | -10.19% | | 5 years | 9.05% | -19.91% | ## Largest fall Volatility of Invesco Emerging Markets USD Bond UCITS ETF in pounds, annualised from weekly returns to 30/09/2026: 7.5% over 1 year, 7.8% over 3 years, 9.1% over 5 years. Largest fall in the price of Invesco Emerging Markets USD Bond UCITS ETF since October 2021, in pounds: −19.9% from 10/12/2021 to 06/10/2023. The lowest 12-month return of Invesco Emerging Markets USD Bond UCITS ETF in pounds (price only, income paid out not included) since January 2021 was −12.7% (12 months to 17/06/2022); the highest was +7.7% (12 months to 26/06/2026). On 30/09/2026 the price of Invesco Emerging Markets USD Bond UCITS ETF was 18.2% below its highest weekly close since October 2021 (10/12/2021), in pounds. ## Charges compared with similar funds Ongoing charge of Invesco Emerging Markets USD Bond UCITS ETF 0.25% a year, as of 01/10/2026: 28 of the 274 other government bond funds charge more, 14 the same and 232 less (share classes counted once). ## Charges & eligibility - Ongoing charges figure (OCF): **0.25%** per year - ISA eligible: yes - SIPP eligible: yes ## Top holdings Largest positions (as of 30/09/2026): | Holding | Weight | |---|---| | Argentina 4.125% 09/07/35 | 1.17% | | Eagle Funding Luxco Sarl 5.5% 17/08/30 | 1.04% | | Argentina 0.75% 09/07/30 | 0.81% | | Argentina 5% 09/01/38 | 0.73% | | Cash and/or Derivatives | 0.65% | | Argentina 3.5% 09/07/41 | 0.54% | | Saudi International Bond 5.75% 16/01/54 | 0.52% | | Qatar 4.817% 14/03/49 | 0.49% | | Ecuador 6.9% 31/07/35 | 0.47% | | Oman Gov Interntl Bond 6% 01/08/29 | 0.45% | ## Where it invests Shares of the whole fund. Bonds, cash and positions the source does not classify are shown as they come, not guessed. ### By type of asset Added up from the holdings Invesco publishes, as of 30/09/2026. | Type of asset | Weight | |---|---| | Bonds | 99.3% | | Cash and money market | 0.7% | All 419 holdings: https://fundology.uk/fund/pemd/holdings --- 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.