ETF · iShares
SDEU iShares Germany Govt Bond UCITS ETF
ISIN IE00B5V94313London Stock Exchange: SDEUBlackRock, Inc.
- Government bonds
- ETF
- ISA
- SIPP
- Distributing
Latest close
LSE£97.23
on
- Ongoing charge
- 0.20% a year
- Fund size
- £177m
As of , at least 15 min delayed
At a glance
As of 13/11/2026, SDEU (iShares Germany Govt Bond UCITS ETF, ISIN IE00B5V94313) closed at £97.23 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 −17.9%, or −35.9% after UK CPIH inflation.
Past returns
- 1 year to 13/11/2026
- −6.7%
- −10.0% after inflation (UK CPIH)
- 3 years to 13/11/2026
- −0.8%
- −10.4% after inflation (UK CPIH)
- 5 years to 13/11/2026
- −17.9%
- −35.9% after inflation (UK CPIH)
£1,000 put in five years ago would have been worth about £821 on 13/11/2026 — about £641 in today’s spending power, once price rises are taken out. Past performance is not a guide to future returns.
Returns: as reported (delayed data). Inflation: UK CPIH, latest month published.
How we work it out:ReturnsReturns after inflationTotal returnReal returnCPIH
Calendar-year and 12-month returns
Calendar-year returns of iShares Germany Govt Bond UCITS ETF in pounds (price only, income paid out not included): 2022 −13.2%, 2023 +2.9%, 2024 −6.8%, 2025 +1.3%; 2026 to 13/11/2026 −5.4%. Returns of iShares Germany Govt Bond UCITS ETF in pounds (price only, income paid out not included) over the 12 months to 30/09/2026: −6.8%; to 30/09/2025: +0.8%; to 30/09/2024: +1.9%; to 30/09/2023: −5.3%; to 30/09/2022: −13.0%.
| Year | Return | After inflation | Return shown as a bar |
|---|---|---|---|
| to | −5.4% | −8.4% | |
| to | +1.3% | −2.2% | |
| to | −6.8% | −10.0% | |
| +2.9% | −1.2% | ||
| −13.2% | −20.5% |
| 12 months to | Return | After inflation |
|---|---|---|
| from | −6.8% | −10.1% |
| from | +0.8% | −3.1% |
| from | +1.9% | −0.7% |
| from | −5.3% | −11.0% |
| from | −13.0% | −20.0% |
As of , inflation: UK CPIH
How we work it out:Calendar-year returnsWhat a calendar-year return isAccumulating and distributing
Risk: volatility and largest fall
Volatility (annualised)
6.6%over 5 years
| 1 year | 4.4% |
|---|---|
| 3 years | 5.5% |
| 5 years | 6.6% |
Annualised from weekly returns. Higher means bumpier.
- Largest fall since November 2021
- −23.1%
- From to
- Lowest 12-month return
- −15.4%
- 12 months to
- Highest 12-month return
- +3.6%
- 12 months to
- Below its highest weekly close since November 2021
- 23.0%
- High of , latest
In words: Volatility of iShares Germany Govt Bond UCITS ETF in pounds, annualised from weekly returns to 13/11/2026: 4.4% over 1 year, 5.5% over 3 years, 6.6% over 5 years. Largest fall in the price of iShares Germany Govt Bond UCITS ETF since November 2021, in pounds: −23.1% from 03/12/2021 to 30/10/2026. The lowest 12-month return of iShares Germany Govt Bond UCITS ETF in pounds (price only, income paid out not included) since January 2021 was −15.4% (12 months to 04/11/2022); the highest was +3.6% (12 months to 07/11/2025). On 13/11/2026 the price of iShares Germany Govt Bond UCITS ETF was 23.0% below its highest weekly close since November 2021 (03/12/2021), in pounds.
As of , price only — income paid out is not included
How we work it out:Risk figuresFallsVolatilityLargest fall
Charges compared with similar funds
- Ongoing charge
- 0.20%
- a year
- On £10,000
- £20
- a year, roughly
- Over five years
- £100
- of £10,000, before growth
- 219 charge less
- 30 the same
- 62 charge more
Ongoing charge of iShares Germany 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).
As of
A lower charge is not a promise of a higher return: what the fund holds matters more.
As of
Read more:Ongoing charge (OCF)OCF and TERFee dragHow charges add up
In plain English
iShares Germany Govt Bond UCITS ETF is an exchange-traded fund (ETF) from iShares, launched in 2012.
It tracks the Bloomberg Germany Treasury Bond Index - EUR.
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.
Government bonds: Loans to governments, such as UK gilts and US Treasuries. They pay interest; their prices move when interest rates change.
Terms:ETFIndex fundUCITSAccumulating or incomeShare classISIN
Key facts
- Ticker
- SDEU
- ISIN
- IE00B5V94313
- Also listed as
- IS0L (Xetra, euros)
- Provider
- iShares
- Tracks
- Bloomberg Germany Treasury Bond Index - EUR
- Structure
- ETF
- An exchange-traded fund: bought and sold on the stock exchange through the day, like a share.
- Income
- Distributing, paid semi-annual
- Income is paid out to holders as cash, usually a few times a year.
- Ongoing charge
- 0.20% a year · about £20 on £10,000
- Fund size
- £177m
- Launched
- Domicile
- Ireland
- UK reporting fund status
- Yes — on HMRC’s list of reporting funds (list of )
- Reporting fund since . What reporting fund status means
- Can usually be held in
- ISA and SIPP
- Check with your platform: each decides which funds it offers.
- Currency hedged
- No
- Price currency
- Pounds (GBP)
- Category
- Government bonds
Price chart
Over the last year, the closing price went from £106.41 on 14/11/2025 to £97.23 on 13/11/2026 (−8.6%). The lowest close shown was £97.02 on 30/10/2026 and the highest £106.41 on 14/11/2025.
One close a week. Before 28/07/2026 the closes are from the weekly price history for this listing; from then on, the closing prices we have recorded. Price only — income paid out is not included, so the line can end below the total return above.
As of , at least 15 min delayed
Five years of prices, and after inflation
258 weekly closes, from 12/11/2021 to 13/11/2026. The same history in November 2026 pounds, adjusted with CPIH inflation.
Create a free account to see the 5-year price chart and the after-inflation chart
Sign-up takes an email address. There is no card to enter and nothing to pay.
How we work it out:Prices and returnsNAV and price
What it holds
- Holdings
- 60
- 67 reported in all
- Ten largest
- 25.2%
- of the whole fund
- Effective number of holdings
- 52
- As concentrated as this many equal-sized holdings (how it is worked out)
- Largest holding
- 3.5%
- GERMANY (FEDERAL REPUBLIC OF) RegS 2.30% 15/02/2033
Top 10 holdings
| Rank# | Holding | Weight as a percentage of the fund |
|---|---|---|
| 1 | GERMANY (FEDERAL REPUBLIC OF) RegS 2.30% 15/02/2033Treasury | 3.51% |
| 2 | GERMANY (FEDERAL REPUBLIC OF) RegS 0.00% 15/08/2030Treasury | 2.79% |
| 3 | GERMANY (FEDERAL REPUBLIC OF) RegS 2.90% 15/02/2036Treasury | 2.73% |
| 4 | GERMANY (FEDERAL REPUBLIC OF) RegS 1.80% 15/08/2053Treasury | 2.52% |
| 5 | GERMANY (FEDERAL REPUBLIC OF) RegS 2.60% 15/08/2034Treasury | 2.41% |
| 6 | GERMANY (FEDERAL REPUBLIC OF) RegS 2.50% 16/04/2031Treasury | 2.37% |
| 7 | GERMANY (FEDERAL REPUBLIC OF) RegS 2.60% 15/08/2035Treasury | 2.35% |
| 8 | GERMANY (FEDERAL REPUBLIC OF) RegS 2.50% 15/08/2046Treasury | 2.19% |
| 9 | Germany (Federal Republic Of) 2.20% 10/10/2030Treasury | 2.15% |
| 10 | GERMANY (FEDERAL REPUBLIC OF) RegS 0.00% 15/08/2031Treasury | 2.14% |
As of , holdings as published
Where it invests
The portfolio by sector, country and type of asset, as a share of the whole fund. Bonds, cash and positions without a classification are shown as they come, not guessed.
By sector
- Treasury99.9%
- Cash and derivatives0.1%
By type of asset
- Bonds99.9%
- Cash and money market0.1%
See the full portfolio
Every holding with search and filters, the whole breakdown by sector, country and type of asset, a map of the 60 largest and what changed since .
More of the portfolio
The fund publishes 67 holdings; the ten largest make up 25.2% of it. The fund's portfolio is also split by currency, maturity and credit quality.
Create a free account to see the full holdings list and the currency, maturity and credit-quality breakdowns
Sign-up takes an email address. There is no card to enter and nothing to pay.
Holdings:Compare what it holds with another fundHoldings overlapHow overlap is measured
Risk and return in depth
Sharpe, Sortino and Calmar ratios
Sharpe, Sortino and Calmar ratios over 1, 3 and 5 years, from weekly returns in pounds.
With a free accountRolling returns
The full range of 250 rolling 12-month returns since January 2021, and of 146 rolling three-year returns, in pounds, with how often they were above zero.
With a free accountLargest falls and recoveries
The largest fall since November 2021, in pounds, with how many weeks it took to reach its low and to recover.
With a free account
Create a free account to see the risk ratios, every rolling return and each large fall and its recovery
Sign-up takes an email address. There is no card to enter and nothing to pay.
Moves compared with a similar fund
Correlation and beta of weekly returns in pounds against iShares Core UK Gilts UCITS ETF, over the three years to 13/11/2026 (149 weeks).
Pro
Pro — currently by invitation
Pro includes moves against a comparable fund
Pro is open by invitation while it is being built. There is nothing to buy. To ask about access, email [email protected].
Questions people ask
What is the ongoing charge of SDEU?
The ongoing charge of SDEU 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 Germany 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 SDEU track?
SDEU tracks the Bloomberg Germany Treasury Bond Index - EUR.
Is SDEU accumulating or distributing?
SDEU 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 SDEU?
The ISIN of SDEU is IE00B5V94313. An ISIN identifies one exact share class of a fund; SDEU is its ticker on the London Stock Exchange. The same share class is also listed as IS0L (Xetra, euros).
What does SDEU hold?
As of 06/11/2026, SDEU holds 67 positions, according to its published holdings. The largest is GERMANY (FEDERAL REPUBLIC OF) RegS 2.30% 15/02/2033 at 3.51% of the fund; the ten largest make up 25.2%. Its ten largest holdings are GERMANY (FEDERAL REPUBLIC OF) RegS 2.30% 15/02/2033 (3.51%), GERMANY (FEDERAL REPUBLIC OF) RegS 0.00% 15/08/2030 (2.79%), GERMANY (FEDERAL REPUBLIC OF) RegS 2.90% 15/02/2036 (2.73%), GERMANY (FEDERAL REPUBLIC OF) RegS 1.80% 15/08/2053 (2.52%), GERMANY (FEDERAL REPUBLIC OF) RegS 2.60% 15/08/2034 (2.41%), GERMANY (FEDERAL REPUBLIC OF) RegS 2.50% 16/04/2031 (2.37%), GERMANY (FEDERAL REPUBLIC OF) RegS 2.60% 15/08/2035 (2.35%), GERMANY (FEDERAL REPUBLIC OF) RegS 2.50% 15/08/2046 (2.19%), Germany (Federal Republic Of) 2.20% 10/10/2030 (2.15%) and GERMANY (FEDERAL REPUBLIC OF) RegS 0.00% 15/08/2031 (2.14%).
What were SDEU’s returns in each of the last five years?
Calendar-year returns of SDEU in pounds (price only, income paid out not included): 2022 −13.2%, 2023 +2.9%, 2024 −6.8%, 2025 +1.3%; 2026 to 13/11/2026 −5.4%. Past performance is not a guide to future returns.
How has SDEU done after inflation?
Over the five years to 13/11/2026 SDEU’s total return was −17.9%, or −35.9% after UK CPIH inflation. Past performance is not a guide to future returns.
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Fund documents and methods
- Fund documents
- Fund page at iShares · Key investor information document (KIID) · Factsheet (links checked )
Methodology:ReturnsCategoriesAll methods
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