ETF · iShares
SPEH iShares Spain Govt Bond UCITS ETF Acc
ISIN IE00BFMM8Y81London Stock Exchange: SPEHBlackRock, Inc.
- Government bonds
- ETF
- ISA
- SIPP
- Accumulating
Latest close
LSE$5.78
on
- Ongoing charge
- 0.23% a year
- Fund size
- £736k
As of , at least 15 min delayed
At a glance
As of 13/11/2026, SPEH (iShares Spain Govt Bond UCITS ETF Acc, ISIN IE00BFMM8Y81) closed at $5.78 on the London Stock Exchange. Its ongoing charge is 0.23% a year (about £23 on £10,000). Over the five years to 13/11/2026 its total return was +0.2%, or −21.8% after UK CPIH inflation.
Past returns
- 1 year to 13/11/2026
- +0.1%
- −3.4% after inflation (UK CPIH)
- 3 years to 13/11/2026
- +7.2%
- −3.2% after inflation (UK CPIH)
- 5 years to 13/11/2026
- +0.2%
- −21.8% after inflation (UK CPIH)
£1,000 put in five years ago would have been worth about £1,002 on 13/11/2026 — about £782 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 Spain Govt Bond UCITS ETF Acc in pounds (price, with income reinvested in the fund): 2022 −5.8%, 2023 +2.9%, 2024 +6.8%, 2025 −4.3%; 2026 to 13/11/2026 +2.3%. Returns of iShares Spain Govt Bond UCITS ETF Acc in pounds (price, with income reinvested in the fund) over the 12 months to 30/09/2026: +0.7%; to 30/09/2025: +2.9%; to 30/09/2024: +2.6%; to 30/09/2023: −10.1%; to 30/09/2022: +3.7%.
| Year | Return | After inflation | Return shown as a bar |
|---|---|---|---|
| to | +2.3% | −1.0% | |
| to | −4.3% | −7.6% | |
| to | +6.8% | +3.1% | |
| +2.9% | −1.2% | ||
| −5.8% | −13.7% |
| 12 months to | Return | After inflation |
|---|---|---|
| from | +0.7% | −2.9% |
| from | +2.9% | −1.1% |
| from | +2.6% | 0.0% |
| from | −10.1% | −15.5% |
| from | +3.7% | −4.7% |
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)
8.4%over 5 years
| 1 year | 6.3% |
|---|---|
| 3 years | 7.2% |
| 5 years | 8.4% |
Annualised from weekly returns. Higher means bumpier.
- Largest fall since November 2021
- −15.0%
- From to
- Lowest 12-month return
- −13.5%
- 12 months to
- Highest 12-month return
- +10.4%
- 12 months to
- Below its highest weekly close since November 2021
- 3.6%
- High of , latest
In words: Volatility of iShares Spain Govt Bond UCITS ETF Acc in pounds, annualised from weekly returns to 13/11/2026: 6.3% over 1 year, 7.2% over 3 years, 8.4% over 5 years. Largest fall in the price of iShares Spain Govt Bond UCITS ETF Acc since November 2021, in pounds: −15.0% from 23/09/2022 to 14/07/2023. The lowest 12-month return of iShares Spain Govt Bond UCITS ETF Acc in pounds (price, with income reinvested in the fund) since January 2021 was −13.5% (12 months to 14/07/2023); the highest was +10.4% (12 months to 22/11/2024). On 13/11/2026 the price of iShares Spain Govt Bond UCITS ETF Acc was 3.6% below its highest weekly close since November 2021 (17/01/2025), in pounds.
As of , price, with income reinvested in the fund
How we work it out:Risk figuresFallsVolatilityLargest fall
Charges compared with similar funds
- Ongoing charge
- 0.23%
- a year
- On £10,000
- £23
- a year, roughly
- Over five years
- £114
- of £10,000, before growth
- 260 charge less
- 2 the same
- 49 charge more
Ongoing charge of iShares Spain Govt Bond UCITS ETF Acc 0.23% a year. Compared on 14/11/2026, 49 of the 311 other government bond funds charge more, 2 the same and 260 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 Spain Govt Bond UCITS ETF Acc is an exchange-traded fund (ETF) from iShares, launched in 2018.
It tracks the Bloomberg Euro Aggregate Treasury Spain.
You buy and sell it through a share-dealing account or platform during stock-market hours, like a share.
Its ongoing charge is 0.23% a year — about £23 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.
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
- SPEH
- ISIN
- IE00BFMM8Y81
- Provider
- iShares
- Structure
- ETF
- An exchange-traded fund: bought and sold on the stock exchange through the day, like a share.
- Income
- Accumulating
- Income is reinvested inside the fund, so it shows up as a rising price rather than cash paid to you.
- Ongoing charge
- 0.23% a year · about £23 on £10,000
- Fund size
- £736k
- 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
- USD
- Category
- Government bonds
Price chart
Over the last year, the closing price went from $5.75 on 14/11/2025 to $5.78 on 13/11/2026 (+0.6%). The lowest close shown was $5.69 on 25/09/2026 and the highest $5.90 on 27/02/2026.
One close a week. Before 10/09/2026 the closes are from the weekly price history for this listing; from then on, the closing prices we have recorded.
As of , at least 15 min delayed
Five years of prices, and after inflation
262 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
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How we work it out:Prices and returnsNAV and price
What it holds
- Holdings
- 53
- on record
- Ten largest
- 25.8%
- of the whole fund
- Effective number of holdings
- 48
- As concentrated as this many equal-sized holdings (how it is worked out)
- Largest holding
- 2.7%
- SPAIN (KINGDOM OF) RegS 3.10% 30/07/2031
Top 10 holdings
| Rank# | Holding | Weight as a percentage of the fund |
|---|---|---|
| 1 | SPAIN (KINGDOM OF) RegS 3.10% 30/07/2031Treasury | 2.73% |
| 2 | Spain (Kingdom Of) 0.80% 30/07/2029Treasury | 2.66% |
| 3 | Spain (Kingdom Of) 3.50% 31/05/2029Treasury | 2.66% |
| 4 | Spain (Kingdom Of) 3.55% 31/10/2033Treasury | 2.66% |
| 5 | Spain (Kingdom Of) 1.45% 30/04/2029Treasury | 2.64% |
| 6 | Spain (Kingdom Of) 5.75% 30/07/2032Treasury | 2.58% |
| 7 | Spain (Kingdom Of) 3.25% 30/04/2034Treasury | 2.50% |
| 8 | Spain (Kingdom Of) 3.45% 31/10/2034Treasury | 2.49% |
| 9 | Spain (Kingdom Of) 0.70% 30/04/2032Treasury | 2.47% |
| 10 | Spain (Kingdom Of) 3.15% 30/04/2035Treasury | 2.44% |
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 type of asset
- Bonds100.0%
- 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 53 largest and what changed since .
More of the portfolio
The fund publishes 52 holdings; the ten largest make up 25.8% 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
Funds tracking the same index
3 funds track Bloomberg Euro Aggregate Treasury Spain, this one included and share classes counted once; their ongoing charges range from 0.20% to 0.23% a year (13/11/2026).
| Fund | Charge | 1 year | 3 years | 5 years |
|---|---|---|---|---|
| iShares Spain Govt Bond UCITS ETFDistributing · 0.20% a year | 0.20% | Not reported | +5.1% | Not reported |
| iShares Spain Govt Bond UCITS ETF -HEDGED- GBPDistributing · Currency hedged · 0.22% a year | 0.22% | +0.9% | +4.8% | Not reported |
| iShares Spain Govt Bond UCITS ETF AccThis fundAccumulating · 0.23% a year | 0.23% | +0.1% | +7.2% | +0.2% |
As of
Bloomberg Euro Aggregate Treasury Spain funds compared: charges, sizes and share classes
Read more:Index fundsTracking differenceHow funds are compared
Other versions of this fund
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 253 rolling 12-month returns since January 2021, and of 149 rolling three-year returns, in pounds, with how often they were above zero.
With a free accountLargest falls and recoveries
The 3 largest falls since November 2021, in pounds, with how many weeks each 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 (156 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 SPEH?
The ongoing charge of SPEH is 0.23% a year — about £23 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 Spain Govt Bond UCITS ETF Acc 0.23% a year. Compared on 14/11/2026, 49 of the 311 other government bond funds charge more, 2 the same and 260 less (share classes counted once).
What does SPEH track?
SPEH tracks the Bloomberg Euro Aggregate Treasury Spain.
Is SPEH accumulating or distributing?
SPEH 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 SPEH?
The ISIN of SPEH is IE00BFMM8Y81. An ISIN identifies one exact share class of a fund; SPEH is its ticker on the London Stock Exchange.
What does SPEH hold?
As of 06/11/2026, SPEH holds 52 positions, according to its published holdings. The largest is SPAIN (KINGDOM OF) RegS 3.10% 30/07/2031 at 2.73% of the fund; the ten largest make up 25.8%. Its ten largest holdings are SPAIN (KINGDOM OF) RegS 3.10% 30/07/2031 (2.73%), Spain (Kingdom Of) 0.80% 30/07/2029 (2.66%), Spain (Kingdom Of) 3.50% 31/05/2029 (2.66%), Spain (Kingdom Of) 3.55% 31/10/2033 (2.66%), Spain (Kingdom Of) 1.45% 30/04/2029 (2.64%), Spain (Kingdom Of) 5.75% 30/07/2032 (2.58%), Spain (Kingdom Of) 3.25% 30/04/2034 (2.50%), Spain (Kingdom Of) 3.45% 31/10/2034 (2.49%), Spain (Kingdom Of) 0.70% 30/04/2032 (2.47%) and Spain (Kingdom Of) 3.15% 30/04/2035 (2.44%).
What were SPEH’s returns in each of the last five years?
Calendar-year returns of SPEH in pounds (price, with income reinvested in the fund): 2022 −5.8%, 2023 +2.9%, 2024 +6.8%, 2025 −4.3%; 2026 to 13/11/2026 +2.3%. Past performance is not a guide to future returns.
How has SPEH done after inflation?
Over the five years to 13/11/2026 SPEH’s total return was +0.2%, or −21.8% 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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