# iShares S&P 500 Paris-Aligned Climate UCITS ETF USD (UPAD)

**Page:** https://fundology.uk/fund/upad · ISIN IE000G4PH2B1

## 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, UPAD (iShares S&P 500 Paris-Aligned Climate UCITS ETF USD, ISIN IE000G4PH2B1) closed at $9.02 on the London Stock Exchange. Its ongoing charge is 0.07% a year (about £7 on £10,000). Over the three years to 13/11/2026 its price changed by +55.1% (income paid out is not included), or +40.1% after UK CPIH inflation.

## Summary

iShares S&P 500 Paris-Aligned Climate UCITS ETF USD is an exchange-traded fund (ETF) from iShares, launched in 2022. You buy and sell it through a share-dealing account or platform during stock-market hours, like a share. Its ongoing charge is 0.07% a year — about £7 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: **$9.02** (13/11/2026).

## Key facts

| Fact | Value |
|---|---|
| Ticker (LSE) | UPAD |
| ISIN | IE000G4PH2B1 |
| Category | Sustainable & clean energy |
| Type | ETF |
| Provider | iShares |
| Income | Distributing |
| Ongoing charge | 0.07% a year (£7 per £10,000) |
| Fund size | £19.4m |
| Launched | 2022 |
| Domicile | Ireland |
| UK reporting fund status | Yes — on HMRC’s list of reporting funds (list of 02/11/2026); reporting fund since 29/04/2022 |

## 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 | +9.96% | +6.06% | income reinvested |
| 3 years | +55.11% | +40.14% | price only |

Returns: as reported (delayed data) and worked out from recorded daily closes. Inflation: UK CPIH, latest month published.

## Calendar-year returns

Calendar-year returns of iShares S&P 500 Paris-Aligned Climate UCITS ETF USD in pounds (price only, income paid out not included): 2023 +22.6%, 2024 +27.8%, 2025 +4.6%; 2026 to 13/11/2026 +9.8%. Returns of iShares S&P 500 Paris-Aligned Climate UCITS ETF USD in pounds (price only, income paid out not included) over the 12 months to 30/09/2026: +12.4%; to 30/09/2025: +15.4%; to 30/09/2024: +24.4%; to 30/09/2023: +7.4%.

| Year | Return | After CPIH inflation | Measured as |
|---|---|---|---|
| 2023 | +22.6% | +17.7% | Price |
| 2024 | +27.8% | +23.4% | Price |
| 2025 | +4.6% | +1.0% | Price |
| 2026 to 13/11/2026 | +9.8% | +6.3% | Price |

## Risk metrics

| Window | Volatility | Max drawdown |
|---|---|---|
| 1 year | 12.25% | -9.82% |
| 3 years | 13.19% | -19.42% |

## Largest fall

Volatility of iShares S&P 500 Paris-Aligned Climate UCITS ETF USD in pounds, annualised from weekly returns to 13/11/2026: 12.3% over 1 year, 13.2% over 3 years. Largest fall in the price of iShares S&P 500 Paris-Aligned Climate UCITS ETF USD since April 2022, in pounds: −19.4% from 24/01/2025 to 18/04/2025. The lowest 12-month return of iShares S&P 500 Paris-Aligned Climate UCITS ETF USD in pounds (price only, income paid out not included) since April 2022 was −3.2% (12 months to 18/08/2023); the highest was +33.6% (12 months to 25/10/2024). On 13/11/2026 the price of iShares S&P 500 Paris-Aligned Climate UCITS ETF USD was 3.0% below its highest weekly close since April 2022 (09/10/2026), in pounds.

## Charges compared with similar funds

Ongoing charge of iShares S&P 500 Paris-Aligned Climate UCITS ETF USD 0.07% a year. Compared on 14/11/2026, 176 of the 177 other sustainable and clean-energy funds charge more, 1 the same and 0 less (share classes counted once).

## Charges & eligibility

- Ongoing charges figure (OCF): **0.07%** 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, UPAD holds 279 positions, according to its published holdings. The largest is NVIDIA at 8.41% of the fund; the ten largest make up 42.7%.

### Top holdings

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

| # | Holding | Ticker | Weight |
|---|---|---|---|
| 1 | NVIDIA | [NVDA](https://fundology.uk/stock/NVDA) | 8.41% |
| 2 | Microsoft | [MSFT](https://fundology.uk/stock/MSFT) | 8.19% |
| 3 | Apple | [AAPL](https://fundology.uk/stock/AAPL) | 5.41% |
| 4 | Alphabet · Class A | [GOOGL](https://fundology.uk/stock/GOOGL) | 3.58% |
| 5 | Visa · Class A | [V](https://fundology.uk/stock/V) | 3.44% |
| 6 | Mastercard · Class A | [MA](https://fundology.uk/stock/MA) | 3.18% |
| 7 | Alphabet · Class C | [GOOG](https://fundology.uk/stock/GOOG) | 2.87% |
| 8 | Broadcom | [AVGO](https://fundology.uk/stock/AVGO) | 2.67% |
| 9 | Tesla | [TSLA](https://fundology.uk/stock/TSLA) | 2.64% |
| 10 | AbbVie | [ABBV](https://fundology.uk/stock/ABBV) | 2.27% |

## 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 |
|---|---|
| Information Technology | 37.6% |
| Financials | 14.3% |
| Health Care | 12.3% |
| Communication Services | 9.1% |
| Consumer Discretionary | 8.7% |
| Industrials | 8.4% |
| Consumer Staples | 4.9% |
| Real Estate | 2.1% |
| Other sectors | 2.6% |

### 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 283 holdings: https://fundology.uk/fund/upad/holdings

## Questions people ask

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

The ongoing charge of UPAD is 0.07% a year — about £7 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 S&P 500 Paris-Aligned Climate UCITS ETF USD 0.07% a year. Compared on 14/11/2026, 176 of the 177 other sustainable and clean-energy funds charge more, 1 the same and 0 less (share classes counted once).

**Is UPAD accumulating or distributing?**

UPAD 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 UPAD?**

The ISIN of UPAD is IE000G4PH2B1. An ISIN identifies one exact share class of a fund; UPAD is its ticker on the London Stock Exchange.

**What does UPAD hold?**

As of 06/11/2026, UPAD holds 279 positions, according to its published holdings. The largest is NVIDIA at 8.41% of the fund; the ten largest make up 42.7%. Its ten largest holdings are NVIDIA (8.41%), Microsoft (8.19%), Apple (5.41%), Alphabet · Class A (3.58%), Visa · Class A (3.44%), Mastercard · Class A (3.18%), Alphabet · Class C (2.87%), Broadcom (2.67%), Tesla (2.64%) and AbbVie (2.27%).

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

Calendar-year returns of UPAD in pounds (price only, income paid out not included): 2023 +22.6%, 2024 +27.8%, 2025 +4.6%; 2026 to 13/11/2026 +9.8%. Past performance is not a guide to future returns.

**How has UPAD done after inflation?**

Over the three years to 13/11/2026 UPAD’s price changed by +55.1% (income paid out is not included), or +40.1% 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/327358/ishares-s-p-500-paris-aligned-climate-ucits-etf)
- [Key investor information document (KIID)](https://www.ishares.com/gls-download/literature/kiid/ucits_kiid-ishares-sp-500-paris-aligned-climate-ucits-etf-usd-dist-gb-ie000g4ph2b1-en.pdf)
- [Factsheet](https://www.ishares.com/gls-download/literature/fact-sheet/upad-ishares-s-p-500-paris-aligned-climate-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.