# Vanguard EUR Eurozone Government Bond UCITS ETF Accum- Hedged USD (VGED) **Source:** https://fundology.uk/fund/vged · ISIN IE00BH04GM46 · Data: TradingView (LSE closes and returns, delayed), issuer documents, ONS CPIH, FCA FIRDS ## 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 30/09/2026, VGED (Vanguard EUR Eurozone Government Bond UCITS ETF Accum- Hedged USD, ISIN IE00BH04GM46) closed at $25.25 on the London Stock Exchange. Its ongoing charge is 0.16% a year (about £16 on £10,000). Over the year to 30/09/2026 its total return was −0.9%, or −4.0% after UK CPIH inflation. ## Summary Vanguard EUR Eurozone Government Bond UCITS ETF Accum- Hedged USD is an exchange-traded fund (ETF) from Vanguard, launched in 2025. It tracks the Bloomberg Barclays Euro Aggregate Treasury 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 0.16% a year — about £16 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. It is currency-hedged: it aims to remove most of the effect of exchange-rate moves against the pound. Latest close: **$25.25** (30/09/2026). ## Key facts | Fact | Value | |---|---| | Ticker (LSE) | VGED | | ISIN | IE00BH04GM46 | | Category | Government bonds | | Type | ETF | | Provider | Vanguard | | Tracks | Bloomberg Barclays Euro Aggregate Treasury Index - EUR | | Income | Accumulating | | Ongoing charge | 0.16% a year (£16 per £10,000) | | Fund size | £13.3m | | Launched | 2025 | | Domicile | Ireland | ## Past returns (periods to 30/09/2026) After the fund's ongoing charges. "Income reinvested" is total return; "price only" leaves out income paid out. Real returns are after ONS CPIH inflation. | Window | Return | After CPIH inflation | Measured as | |---|---|---|---| | 1 year | -0.90% | -4.01% | income reinvested | Returns: TradingView (delayed data). Inflation: ONS CPIH, latest month published. ## Calendar-year returns Calendar-year returns of Vanguard EUR Eurozone Government Bond UCITS ETF Accum- Hedged USD in pounds (price, with income reinvested in the fund): 2026 to 30/09/2026 −0.3%. Returns of Vanguard EUR Eurozone Government Bond UCITS ETF Accum- Hedged USD in pounds (price, with income reinvested in the fund) over the 12 months to 30/09/2026: −0.5%. | Year | Return | After CPIH inflation | Measured as | |---|---|---|---| | 2026 to 30/09/2026 | -0.3% | -3.1% | Price | ## Risk metrics | Window | Volatility | Max drawdown | |---|---|---| | 1 year | 6.62% | -5.07% | ## Largest fall Volatility of Vanguard EUR Eurozone Government Bond UCITS ETF Accum- Hedged USD in pounds, annualised from weekly returns to 30/09/2026: 6.6% over 1 year. Largest fall in the price of Vanguard EUR Eurozone Government Bond UCITS ETF Accum- Hedged USD since April 2025, in pounds: −5.1% from 26/06/2026 to 21/08/2026. On 30/09/2026 the price of Vanguard EUR Eurozone Government Bond UCITS ETF Accum- Hedged USD was 4.6% below its highest weekly close since April 2025 (26/06/2026), in pounds. ## Charges compared with similar funds Ongoing charge of Vanguard EUR Eurozone Government Bond UCITS ETF Accum- Hedged USD 0.16% a year, as of 01/10/2026: 95 of the 274 other government bond funds charge more, 4 the same and 175 less (share classes counted once). ## Funds tracking the same index 3 funds track Bloomberg Barclays Euro Aggregate Treasury Index - EUR, this one included and share classes counted once; their ongoing charges range from 0.11% to 0.16% a year (30/09/2026). | Fund | Ongoing charge | 1 year | 3 years | 5 years | |---|---|---|---|---| | Vanguard EUR Eurozone Government Bond UCITS ETF | 0.11% | -5.7% | -1.4% | -21.2% | | Vanguard EUR Eurozone Government Bond UCITS ETF Accum Shs Unhedged EUR | 0.11% | -4.8% | +5.0% | -14.6% | | Vanguard EUR Eurozone Government Bond UCITS ETF Accum- Hedged USD (this fund) | 0.16% | -0.9% | — | — | Returns are the data vendor’s, in pounds, income reinvested unless marked "(price)". ## Charges & eligibility - Ongoing charges figure (OCF): **0.16%** per year - ISA eligible: yes - SIPP eligible: yes ## Top holdings Largest positions (as of 31/08/2026): | Holding | Weight | |---|---| | French Republic Government Bond OAT | 24.48% | | Italy Buoni Poliennali Del Tesoro | 21.59% | | Bundesrepublik Deutschland Bundesanleihe | 14.04% | | Spain Government Bond | 13.99% | | Kingdom of Belgium Government Bond | 4.98% | | Netherlands Government Bond | 4.03% | | Bundesobligation | 3.82% | | Republic of Austria Government Bond | 3.47% | | Portugal Obrigacoes do Tesouro OT | 1.95% | | Finland Government Bond | 1.81% | ## Where it invests Shares of the whole fund. Bonds, cash and positions the source does not classify are shown as they come, not guessed. ### By country Added up from the holdings Vanguard publishes, as of 31/08/2026. | Country | Weight | |---|---| | France | 24.5% | | Italy | 21.6% | | Germany | 19.1% | | Spain | 14.0% | | Belgium | 5.0% | | Netherlands | 4.0% | | Austria | 3.5% | | Portugal | 1.9% | | Other countries | 6.3% | | Not classified | 0.1% | ### By type of asset Added up from the holdings Vanguard publishes, as of 31/08/2026. | Type of asset | Weight | |---|---| | Bonds | 99.9% | | Cash and money market | 0.1% | All 24 holdings: https://fundology.uk/fund/vged/holdings --- We show information. We are not financial advisers, not authorised by the FCA, and never recommend specific investments. Capital at risk. Past performance is not a guide to future returns. The value of investments can fall as well as rise.