# iShares MSCI Poland UCITS ETF (SPOL)

**Page:** https://fundology.uk/fund/spol · ISIN IE00B4M7GH52

## 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, SPOL (iShares MSCI Poland UCITS ETF, ISIN IE00B4M7GH52) closed at £31.56 on the London Stock Exchange. Its ongoing charge is 0.74% a year (about £74 on £10,000). Over the five years to 13/11/2026 its total return was +110.5%, or +64.3% after UK CPIH inflation.

## Summary

iShares MSCI Poland UCITS ETF is an exchange-traded fund (ETF) from iShares, launched in 2011. It tracks the MSCI Poland. You buy and sell it through a share-dealing account or platform during stock-market hours, like a share. Its ongoing charge is 0.74% a year — about £74 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.

Latest close: **£31.56** (13/11/2026).

## Key facts

| Fact | Value |
|---|---|
| Ticker (LSE) | SPOL |
| ISIN | IE00B4M7GH52 |
| Also listed as | IPOL (London Stock Exchange, US dollars), IBCJ (Xetra, euros) |
| Category | Emerging markets |
| Type | ETF |
| Provider | iShares |
| Tracks | MSCI Poland |
| Income | Accumulating |
| Ongoing charge | 0.74% a year (£74 per £10,000) |
| Fund size | £835m |
| Launched | 2011 |
| Domicile | Ireland |
| UK reporting fund status | Yes — on HMRC’s list of reporting funds (list of 02/11/2026); reporting fund since 24/01/2011 |

## 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 | +33.33% | +28.61% | income reinvested |
| 3 years | +120.66% | +99.36% | income reinvested |
| 5 years | +110.45% | +64.27% | income reinvested |

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

## Calendar-year returns

Calendar-year returns of iShares MSCI Poland UCITS ETF in pounds (price, with income reinvested in the fund): 2022 −18.0%, 2023 +41.5%, 2024 −3.6%, 2025 +63.4%; 2026 to 13/11/2026 +25.2%. Returns of iShares MSCI Poland UCITS ETF in pounds (price, with income reinvested in the fund) over the 12 months to 30/09/2026: +47.7%; to 30/09/2025: +32.5%; to 30/09/2024: +37.2%; to 30/09/2023: +44.1%; to 30/09/2022: −42.3%.

| Year | Return | After CPIH inflation | Measured as |
|---|---|---|---|
| 2022 | -18.0% | -24.9% | Price |
| 2023 | +41.5% | +35.9% | Price |
| 2024 | -3.6% | -6.9% | Price |
| 2025 | +63.4% | +57.8% | Price |
| 2026 to 13/11/2026 | +25.2% | +21.2% | Price |

## Risk metrics

| Window | Volatility | Max drawdown |
|---|---|---|
| 1 year | 20.53% | -8.60% |
| 3 years | 21.69% | -16.82% |
| 5 years | 25.01% | -43.27% |

## Largest fall

Volatility of iShares MSCI Poland UCITS ETF in pounds, annualised from weekly returns to 13/11/2026: 20.5% over 1 year, 21.7% over 3 years, 25.0% over 5 years. Largest fall in the price of iShares MSCI Poland UCITS ETF since November 2021, in pounds: −43.3% from 14/01/2022 to 30/09/2022. The lowest 12-month return of iShares MSCI Poland UCITS ETF in pounds (price, with income reinvested in the fund) since January 2021 was −44.4% (12 months to 14/10/2022); the highest was +63.4% (12 months to 02/01/2026). On 13/11/2026 the price of iShares MSCI Poland UCITS ETF was 2.3% below its highest weekly close since November 2021 (25/09/2026), in pounds.

## Charges compared with similar funds

Ongoing charge of iShares MSCI Poland UCITS ETF 0.74% a year. Compared on 14/11/2026, 13 of the 151 other emerging-market share funds charge more, 5 the same and 133 less (share classes counted once).

## Charges & eligibility

- Ongoing charges figure (OCF): **0.74%** per year (as of 13/11/2026)
- 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, SPOL holds 16 positions, according to its published holdings. The largest is Powszechna Kasa Oszczednosci Bank at 18.52% of the fund; the ten largest make up 84.9%.

### Top holdings

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

| # | Holding | Ticker | Weight |
|---|---|---|---|
| 1 | Powszechna Kasa Oszczednosci Bank | — | 18.52% |
| 2 | Orlen | — | 13.95% |
| 3 | Allegro | — | 10.40% |
| 4 | Bank Pekao | — | 8.52% |
| 5 | Pzu | — | 7.57% |
| 6 | KGHM Polska Miedz | [KGH](https://fundology.uk/stock/GPW:KGH) | 7.16% |
| 7 | Erste Bank Polska | [EBP](https://fundology.uk/stock/EBP) | 5.89% |
| 8 | Lpp | [LPP](https://fundology.uk/stock/LPP) | 5.66% |
| 9 | mBank | [MBK](https://fundology.uk/stock/MBK) | 3.85% |
| 10 | Dino Polska | [DNP](https://fundology.uk/stock/DNP) | 3.39% |

## 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 06/11/2026.

| Sector | Weight |
|---|---|
| Financials | 46.9% |
| Consumer Discretionary | 16.1% |
| Energy | 13.9% |
| Materials | 7.2% |
| Consumer Staples | 5.7% |
| Communication Services | 3.2% |
| Utilities | 2.6% |
| Information Technology | 2.3% |
| Other sectors | 2.1% |

### By type of asset

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

| Type of asset | Weight |
|---|---|
| Equity | 99.6% |
| Cash and money market | 0.4% |

All 18 holdings: https://fundology.uk/fund/spol/holdings

## Questions people ask

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

The ongoing charge of SPOL is 0.74% a year — about £74 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 MSCI Poland UCITS ETF 0.74% a year. Compared on 14/11/2026, 13 of the 151 other emerging-market share funds charge more, 5 the same and 133 less (share classes counted once).

**What does SPOL track?**

SPOL tracks the MSCI Poland.

**Is SPOL accumulating or distributing?**

SPOL 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 SPOL?**

The ISIN of SPOL is IE00B4M7GH52. An ISIN identifies one exact share class of a fund; SPOL is its ticker on the London Stock Exchange. The same share class is also listed as IPOL (London Stock Exchange, US dollars) and IBCJ (Xetra, euros).

**What does SPOL hold?**

As of 06/11/2026, SPOL holds 16 positions, according to its published holdings. The largest is Powszechna Kasa Oszczednosci Bank at 18.52% of the fund; the ten largest make up 84.9%. Its ten largest holdings are Powszechna Kasa Oszczednosci Bank (18.52%), Orlen (13.95%), Allegro (10.40%), Bank Pekao (8.52%), Pzu (7.57%), KGHM Polska Miedz (7.16%), Erste Bank Polska (5.89%), Lpp (5.66%), mBank (3.85%) and Dino Polska (3.39%).

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

Calendar-year returns of SPOL in pounds (price, with income reinvested in the fund): 2022 −18.0%, 2023 +41.5%, 2024 −3.6%, 2025 +63.4%; 2026 to 13/11/2026 +25.2%. Past performance is not a guide to future returns.

**How has SPOL done after inflation?**

Over the five years to 13/11/2026 SPOL’s total return was +110.5%, or +64.3% 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/251875/ishares-msci-poland-ucits-etf)
- [Key investor information document (KIID)](https://www.ishares.com/gls-download/literature/kiid/ucits_kiid-ishares-msci-poland-ucits-etf-usd-acc-gb-ie00b4m7gh52-en.pdf)
- [Factsheet](https://www.ishares.com/gls-download/literature/fact-sheet/spol-ishares-msci-poland-ucits-etf-fund-fact-sheet-en-gb.pdf)
- 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.