# Ishares USD Corp Bond Enhanced Active UCITS ETF (USEB)

**Page:** https://fundology.uk/fund/useb · ISIN IE000RJL5A30

## 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, USEB (Ishares USD Corp Bond Enhanced Active UCITS ETF, ISIN IE000RJL5A30) closed at $5.22 on the London Stock Exchange. Its ongoing charge is 0.20% a year (about £20 on £10,000). Over the year to 13/11/2026 its total return was −1.4%, or −4.9% after UK CPIH inflation.

## Summary

Ishares USD Corp Bond Enhanced Active UCITS ETF Accum Shs USD is an exchange-traded fund (ETF) from iShares, launched in 2025. It tracks the No Underlying Index. You buy and sell it through a share-dealing account or platform during stock-market hours, like a share. Its ongoing charge is 0.2% 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 reinvested inside the fund, so it shows up as a rising price rather than cash paid to you.

Latest close: **$5.22** (13/11/2026).

## Key facts

| Fact | Value |
|---|---|
| Ticker (LSE) | USEB |
| ISIN | IE000RJL5A30 |
| Category | Corporate & other bonds |
| Type | ETF |
| Provider | iShares |
| Income | Accumulating |
| Ongoing charge | 0.20% a year (£20 per £10,000) |
| Fund size | £31.3m |
| Launched | 2025 |
| Domicile | Ireland |
| UK reporting fund status | Yes — on HMRC’s list of reporting funds (list of 02/11/2026); reporting fund since 26/03/2025 |

## 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 | -1.40% | -4.89% | income reinvested |

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

## Calendar-year returns

Calendar-year returns of Ishares USD Corp Bond Enhanced Active UCITS ETF Accum Shs USD in pounds (price, with income reinvested in the fund): 2026 to 13/11/2026 +0.1%. Returns of Ishares USD Corp Bond Enhanced Active UCITS ETF Accum Shs USD in pounds (price, with income reinvested in the fund) over the 12 months to 30/09/2026: −1.5%.

| Year | Return | After CPIH inflation | Measured as |
|---|---|---|---|
| 2026 to 13/11/2026 | +0.1% | -3.1% | Price |

## Risk metrics

| Window | Volatility | Max drawdown |
|---|---|---|
| 1 year | 5.82% | -4.88% |

## Largest fall

Volatility of Ishares USD Corp Bond Enhanced Active UCITS ETF Accum Shs USD in pounds, annualised from weekly returns to 13/11/2026: 5.8% over 1 year. Largest fall in the price of Ishares USD Corp Bond Enhanced Active UCITS ETF Accum Shs USD since April 2025, in pounds: −4.9% from 26/06/2026 to 21/08/2026. On 13/11/2026 the price of Ishares USD Corp Bond Enhanced Active UCITS ETF Accum Shs USD was 2.9% below its highest weekly close since April 2025 (26/06/2026), in pounds.

## Charges compared with similar funds

Ongoing charge of Ishares USD Corp Bond Enhanced Active UCITS ETF Accum Shs USD 0.20% a year. Compared on 14/11/2026, 225 of the 427 other corporate and other bond funds charge more, 35 the same and 167 less (share classes counted once).

## Charges & eligibility

- Ongoing charges figure (OCF): **0.20%** per year (as of 30/10/2026)
- 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, USEB holds 437 positions, according to its published holdings. The largest is South Bow USA Infrastructure Holdi 5.58% 01/10/2034 at 0.69% of the fund; the ten largest make up 5.9%.

### Top holdings

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

| # | Holding | Ticker | Weight |
|---|---|---|---|
| 1 | South Bow USA Infrastructure Holdi 5.58% 01/10/2034 | — | 0.69% |
| 2 | Mplx LP 5.50% 01/06/2034 | — | 0.65% |
| 3 | Humana Inc 5.55% 01/05/2035 | — | 0.64% |
| 4 | Cf Industries Inc 5.30% 26/11/2035 | — | 0.59% |
| 5 | Energy Transfer LP 6.55% 01/12/2033 | — | 0.58% |
| 6 | Capital One Financial Corporation 7.96% 02/11/2034 | — | 0.57% |
| 7 | Brookfield Asset Management Ltd 5.30% 15/01/2036 | — | 0.55% |
| 8 | Telefonica Emisiones Sau 7.04% 20/06/2036 | — | 0.55% |
| 9 | Verizon Communications Inc 5.25% 02/04/2035 | — | 0.55% |
| 10 | Laboratory Corporation of America 4.80% 01/10/2034 | — | 0.54% |

## 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 |
|---|---|
| Banking | 19.0% |
| Energy | 10.9% |
| Communication Services | 10.2% |
| Electric | 8.5% |
| Consumer Cyclical | 8.0% |
| Health Care | 7.7% |
| Insurance | 5.5% |
| Capital Goods | 4.4% |
| Other sectors | 25.7% |

### By country

As published for the fund, as of 06/11/2026.

| Country | Weight |
|---|---|
| United States | 81.7% |
| Canada | 5.6% |
| United Kingdom | 4.6% |
| Italy | 1.5% |
| Japan | 1.2% |
| Cash and derivatives | 0.5% |
| Other | 4.9% |

### By type of asset

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

| Type of asset | Weight |
|---|---|
| Bonds | 99.4% |
| Cash and money market | 0.6% |

All 438 holdings: https://fundology.uk/fund/useb/holdings

## Questions people ask

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

The ongoing charge of USEB 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 USD Corp Bond Enhanced Active UCITS ETF Accum Shs USD 0.20% a year. Compared on 14/11/2026, 225 of the 427 other corporate and other bond funds charge more, 35 the same and 167 less (share classes counted once).

**Is USEB accumulating or distributing?**

USEB 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 USEB?**

The ISIN of USEB is IE000RJL5A30. An ISIN identifies one exact share class of a fund; USEB is its ticker on the London Stock Exchange.

**What does USEB hold?**

As of 06/11/2026, USEB holds 437 positions, according to its published holdings. The largest is South Bow USA Infrastructure Holdi 5.58% 01/10/2034 at 0.69% of the fund; the ten largest make up 5.9%. Its ten largest holdings are South Bow USA Infrastructure Holdi 5.58% 01/10/2034 (0.69%), Mplx LP 5.50% 01/06/2034 (0.65%), Humana Inc 5.55% 01/05/2035 (0.64%), Cf Industries Inc 5.30% 26/11/2035 (0.59%), Energy Transfer LP 6.55% 01/12/2033 (0.58%), Capital One Financial Corporation 7.96% 02/11/2034 (0.57%), Brookfield Asset Management Ltd 5.30% 15/01/2036 (0.55%), Telefonica Emisiones Sau 7.04% 20/06/2036 (0.55%), Verizon Communications Inc 5.25% 02/04/2035 (0.55%) and Laboratory Corporation of America 4.80% 01/10/2034 (0.54%).

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

Calendar-year returns of USEB in pounds (price, with income reinvested in the fund): 2026 to 13/11/2026 +0.1%. Past performance is not a guide to future returns.

**How has USEB done after inflation?**

Over the year to 13/11/2026 USEB’s total return was −1.4%, or −4.9% 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/341507/ishares-corp-bond-enhanced-active-ucits-etf)
- [Key investor information document (KIID)](https://www.ishares.com/gls-download/literature/kiid/ucits_kiid-ishares-corp-bond-enhanced-active-ucits-etf-usd-acc-gb-ie000rjl5a30-en.pdf)
- [Factsheet](https://www.ishares.com/gls-download/literature/fact-sheet/useb-ishares-corp-bond-enhanced-active-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.