# Xtrackers II US Treasuries UCITS ETF Shs 1C Capitalisation (XUST) **Page:** https://fundology.uk/fund/xust · ISIN LU1920015796 ## 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, XUST (Xtrackers II US Treasuries UCITS ETF Shs 1C Capitalisation, ISIN LU1920015796) closed at $8.14 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 total return was +3.5%, or −6.5% after UK CPIH inflation. ## Summary Xtrackers II US Treasuries UCITS ETF Shs 1C Capitalisation is an exchange-traded fund (ETF) from Xtrackers, launched in 2021. It tracks the iBoxx USD Treasuries. 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 reinvested inside the fund, so it shows up as a rising price rather than cash paid to you. Latest close: **$8.14** (13/11/2026). ## Key facts | Fact | Value | |---|---| | Ticker (LSE) | XUST | | ISIN | LU1920015796 | | Category | Government bonds | | Type | ETF | | Provider | Xtrackers | | Tracks | iBoxx USD Treasuries | | Income | Accumulating | | Ongoing charge | 0.07% a year (£7 per £10,000) | | Fund size | £327m | | Launched | 2021 | | Domicile | Luxembourg | | UK reporting fund status | Yes — on HMRC’s list of reporting funds (list of 02/11/2026); reporting fund since 06/12/2021 | ## 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 | -0.98% | -4.49% | income reinvested | | 3 years | +3.49% | -6.50% | income reinvested | Returns: as reported (delayed data). Inflation: UK CPIH, latest month published. ## Calendar-year returns Calendar-year returns of Xtrackers II US Treasuries UCITS ETF Shs 1C Capitalisation in pounds (price, with income reinvested in the fund): 2023 −1.8%, 2024 +3.1%, 2025 −1.9%; 2026 to 13/11/2026 +0.2%. Returns of Xtrackers II US Treasuries UCITS ETF Shs 1C Capitalisation in pounds (price, with income reinvested in the fund) over the 12 months to 30/09/2026: −1.0%; to 30/09/2025: +1.7%; to 30/09/2024: +0.7%; to 30/09/2023: −11.1%. | Year | Return | After CPIH inflation | Measured as | |---|---|---|---| | 2023 | -1.8% | -5.7% | Price | | 2024 | +3.1% | -0.4% | Price | | 2025 | -1.9% | -5.3% | Price | | 2026 to 13/11/2026 | +0.2% | -3.0% | Price | ## Risk metrics | Window | Volatility | Max drawdown | |---|---|---| | 1 year | 5.87% | -4.99% | | 3 years | 7.09% | -8.03% | ## Largest fall Volatility of Xtrackers II US Treasuries UCITS ETF Shs 1C Capitalisation in pounds, annualised from weekly returns to 13/11/2026: 5.9% over 1 year, 7.1% over 3 years. Largest fall in the price of Xtrackers II US Treasuries UCITS ETF Shs 1C Capitalisation since September 2022, in pounds: −13.9% from 30/09/2022 to 14/07/2023. The lowest 12-month return of Xtrackers II US Treasuries UCITS ETF Shs 1C Capitalisation in pounds (price, with income reinvested in the fund) since September 2022 was −11.1% (12 months to 29/09/2023); the highest was +7.5% (12 months to 26/06/2026). On 13/11/2026 the price of Xtrackers II US Treasuries UCITS ETF Shs 1C Capitalisation was 8.3% below its highest weekly close since September 2022 (30/09/2022), in pounds. ## Charges compared with similar funds Ongoing charge of Xtrackers II US Treasuries UCITS ETF Shs 1C Capitalisation 0.07% a year. Compared on 14/11/2026, 241 of the 311 other government bond funds charge more, 30 the same and 40 less (share classes counted once). ## Funds tracking the same index 4 funds track iBoxx USD Treasuries, this one included and share classes counted once; their ongoing charges range from 0.07% to 0.10% a year (13/11/2026). | Fund | Ongoing charge | 1 year | 3 years | 5 years | |---|---|---|---|---| | Xtrackers II US Treasuries UCITS ETF | 0.07% | -1.0% | +3.5% | -2.6% | | Xtrackers II US Treasuries UCITS ETF 2C - GBP Hedged- Capitalisation | — | -0.7% | +5.1% | — | | Xtrackers II US Treasuries UCITS ETF EUR | 0.10% | — | +1.3% | -15.0% | | Xtrackers II US Treasuries UCITS ETF Shs 1C Capitalisation (this fund) | 0.07% | -1.0% | +3.5% | — | Returns are as reported, in pounds, income reinvested unless marked "(price)". ## 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 15/11/2026, XUST holds 300 positions, according to its published holdings. The largest is Treasury Note (US91282CLW90) at 0.75% of the fund; the ten largest make up 7.4%. ### Top holdings Largest positions (as of 15/11/2026), as a percentage of the whole fund: | # | Holding | Ticker | Weight | |---|---|---|---| | 1 | Treasury Note (US91282CLW90) | — | 0.75% | | 2 | Treasury Note (US91282CNT44) | — | 0.75% | | 3 | Treasury Note (US91282CMM00) | — | 0.74% | | 4 | Treasury Note (US91282CNC19) | — | 0.74% | | 5 | Treasury Note (US91282CPZ85) | — | 0.74% | | 6 | Treasury Note (US91282CQQ77) | — | 0.74% | | 7 | Treasury Note (US91282CJJ18) | — | 0.73% | | 8 | Treasury Note (US91282CJZ59) | — | 0.73% | | 9 | Treasury Note (US91282CKQ32) | — | 0.73% | | 10 | Treasury Note (US91282CLF67) | — | 0.73% | ## Where it invests Shares of the whole fund. Bonds, cash and positions without a classification are shown as they come, not guessed. ### By country Added up from the fund’s published holdings, as of 15/11/2026. | Country | Weight | |---|---| | United States | 99.9% | | Other funds | 0.1% | ### By type of asset Added up from the fund’s published holdings, as of 15/11/2026. | Type of asset | Weight | |---|---| | Bonds | 99.9% | | Cash and money market | 0.1% | All 300 holdings: https://fundology.uk/fund/xust/holdings ## Questions people ask **What is the ongoing charge of XUST?** The ongoing charge of XUST 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 Xtrackers II US Treasuries UCITS ETF Shs 1C Capitalisation 0.07% a year. Compared on 14/11/2026, 241 of the 311 other government bond funds charge more, 30 the same and 40 less (share classes counted once). **What does XUST track?** XUST tracks the iBoxx USD Treasuries. **Is XUST accumulating or distributing?** XUST 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 XUST?** The ISIN of XUST is LU1920015796. An ISIN identifies one exact share class of a fund; XUST is its ticker on the London Stock Exchange. **What does XUST hold?** As of 15/11/2026, XUST holds 300 positions, according to its published holdings. The largest is Treasury Note (US91282CLW90) at 0.75% of the fund; the ten largest make up 7.4%. Its ten largest holdings are Treasury Note (US91282CLW90) (0.75%), Treasury Note (US91282CNT44) (0.75%), Treasury Note (US91282CMM00) (0.74%), Treasury Note (US91282CNC19) (0.74%), Treasury Note (US91282CPZ85) (0.74%), Treasury Note (US91282CQQ77) (0.74%), Treasury Note (US91282CJJ18) (0.73%), Treasury Note (US91282CJZ59) (0.73%), Treasury Note (US91282CKQ32) (0.73%) and Treasury Note (US91282CLF67) (0.73%). **What were XUST’s returns in each of the last five years?** Calendar-year returns of XUST in pounds (price, with income reinvested in the fund): 2023 −1.8%, 2024 +3.1%, 2025 −1.9%; 2026 to 13/11/2026 +0.2%. Past performance is not a guide to future returns. **How has XUST done after inflation?** Over the three years to 13/11/2026 XUST’s total return was +3.5%, or −6.5% after UK CPIH inflation. Past performance is not a guide to future returns. ## Fund documents - [Fund page at Xtrackers (DWS)](https://etf.dws.com/en-gb/LU1920015796-us-treasuries-ucits-etf-1c/) - Links checked 12/10/2026. --- 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.